Campbell’s (NASDAQ:CPB) Announces Earnings Results, Beats Expectations By $0.08 EPS

Campbell’s (NASDAQ:CPB) announced its earnings results on Monday. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08, RTT News reports. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. During the same period last year, the firm posted $0.75 EPS.

Campbell’s Stock Performance

CPB opened at $34.17 on Monday. The business has a fifty day simple moving average of $36.62 and a 200 day simple moving average of $39.27. The company has a market capitalization of $10.19 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. Campbell’s has a 1 year low of $32.95 and a 1 year high of $52.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 4.57%. Campbell’s’s dividend payout ratio (DPR) is presently 90.17%.

Insider Activity at Campbell’s

In related news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Campbell’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in Campbell’s by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after acquiring an additional 750 shares in the last quarter. Empowered Funds LLC acquired a new position in Campbell’s in the 1st quarter valued at $446,000. Woodline Partners LP raised its holdings in Campbell’s by 40.9% in the 1st quarter. Woodline Partners LP now owns 16,623 shares of the company’s stock valued at $664,000 after acquiring an additional 4,827 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Campbell’s by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,472 shares of the company’s stock valued at $777,000 after acquiring an additional 685 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Campbell’s by 4.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 660,543 shares of the company’s stock valued at $26,369,000 after acquiring an additional 27,374 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CPB. Wells Fargo & Company dropped their target price on Campbell’s from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday. DA Davidson decreased their price target on Campbell’s from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Citigroup decreased their price target on Campbell’s from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Monday, May 19th. Jefferies Financial Group decreased their price target on Campbell’s from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, Consumer Edge restated an “equal weight” rating on shares of Campbell’s in a research note on Monday, March 17th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.40.

Campbell’s Company Profile

The Campbell’s Company, formerly known as Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.