Campbell Soup Co. (CPB) Releases FY17 Earnings Guidance
Campbell Soup Co. (NYSE:CPB) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.00-3.09 for the period, compared to the Thomson Reuters consensus estimate of $3.04. The company issued revenue guidance of +0-1% to ~$7.96-8.04 billion, compared to the consensus revenue estimate of $8.01 billion.
Campbell Soup Co. (NYSE:CPB) opened at 55.04 on Tuesday. The company has a 50-day moving average price of $53.93 and a 200-day moving average price of $59.45. Campbell Soup Co. has a 12-month low of $50.54 and a 12-month high of $67.89. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 30.41 and a beta of 0.40.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The company earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. On average, equities research analysts forecast that Campbell Soup Co. will post $3.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Wednesday, January 11th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.54%. Campbell Soup’s payout ratio is currently 77.78%.
A number of research firms have weighed in on CPB. TheStreet cut shares of Campbell Soup from a buy rating to a hold rating in a research report on Thursday, September 1st. Wells Fargo & Co. set a $59.50 price objective on shares of Campbell Soup and gave the company a hold rating in a research report on Sunday, September 4th. Citigroup Inc. decreased their price objective on shares of Campbell Soup from $67.00 to $63.00 and set a neutral rating for the company in a research report on Friday, September 2nd. RBC Capital Markets reissued a sector perform rating and issued a $58.00 price objective (down from $62.00) on shares of Campbell Soup in a research report on Sunday, September 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Campbell Soup from $62.00 to $58.00 and set a sector perform rating for the company in a research report on Friday, September 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $59.83.
In other Campbell Soup news, insider Edward Carolan sold 2,400 shares of Campbell Soup stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $54.35, for a total value of $130,440.00. Following the transaction, the insider now owns 49,038 shares in the company, valued at $2,665,215.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the completion of the transaction, the vice president now owns 28,952 shares in the company, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Capital Management LLC raised its position in Campbell Soup by 87.3% in the second quarter. Janus Capital Management LLC now owns 2,674,791 shares of the company’s stock valued at $177,954,000 after buying an additional 1,246,493 shares during the period. Laurion Capital Management LP raised its position in shares of Campbell Soup by 105.4% in the second quarter. Laurion Capital Management LP now owns 62,400 shares of the company’s stock worth $4,151,000 after buying an additional 1,212,300 shares during the last quarter. Jefferies Group LLC raised its position in shares of Campbell Soup by 104.8% in the second quarter. Jefferies Group LLC now owns 53,863 shares of the company’s stock worth $3,584,000 after buying an additional 1,168,992 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Campbell Soup by 30.1% in the second quarter. BlackRock Fund Advisors now owns 4,693,665 shares of the company’s stock worth $312,270,000 after buying an additional 1,087,074 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Campbell Soup by 61.2% in the second quarter. APG Asset Management N.V. now owns 1,445,569 shares of the company’s stock worth $96,174,000 after buying an additional 548,700 shares during the last quarter. Hedge funds and other institutional investors own 42.90% of the company’s stock.
Campbell Soup Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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