Campbell Soup Co. (CPB) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Campbell Soup Co. (NYSE:CPB) posted its quarterly earnings data on Tuesday. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $0.95 EPS. Campbell Soup’s revenue was up .0% compared to the same quarter last year. Campbell Soup updated its FY17 guidance to $3.00-3.09 EPS.
Shares of Campbell Soup (NYSE:CPB) opened at 57.02 on Wednesday. Campbell Soup has a 52-week low of $50.54 and a 52-week high of $67.89. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 31.50 and a beta of 0.40. The stock’s 50 day moving average price is $54.00 and its 200-day moving average price is $59.40.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Wednesday, January 11th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Monday, January 9th. Campbell Soup’s dividend payout ratio is currently 77.78%.
In other news, insider Carlos Barroso sold 1,600 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total value of $92,288.00. Following the sale, the insider now directly owns 46,888 shares in the company, valued at $2,704,499.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William J. O’shea sold 13,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total transaction of $750,620.00. Following the completion of the sale, the vice president now owns 28,952 shares in the company, valued at $1,671,688.48. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vicus Capital raised its stake in shares of Campbell Soup by 0.3% in the second quarter. Vicus Capital now owns 3,695 shares of the company’s stock worth $246,000 after buying an additional 12 shares during the period. First Midwest Bank Trust Division raised its stake in shares of Campbell Soup by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 3,381 shares of the company’s stock worth $225,000 after buying an additional 16 shares during the period. Frontier Wealth Management LLC raised its stake in shares of Campbell Soup by 0.8% in the second quarter. Frontier Wealth Management LLC now owns 4,486 shares of the company’s stock worth $298,000 after buying an additional 36 shares during the period. Chicago Equity Partners LLC raised its stake in shares of Campbell Soup by 0.4% in the third quarter. Chicago Equity Partners LLC now owns 10,685 shares of the company’s stock worth $584,000 after buying an additional 40 shares during the period. Finally, Bank of Hawaii raised its stake in shares of Campbell Soup by 0.7% in the third quarter. Bank of Hawaii now owns 5,635 shares of the company’s stock worth $308,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 42.90% of the company’s stock.
Several brokerages have recently weighed in on CPB. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Argus cut Campbell Soup from a “buy” rating to a “hold” rating and boosted their target price for the stock from $47.77 to $55.38 in a report on Monday, September 19th. lowered their target price on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a report on Monday, September 12th. Wells Fargo & Co. set a $59.50 target price on Campbell Soup and gave the stock a “hold” rating in a report on Sunday, September 4th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $58.00 target price (down from $62.00) on shares of Campbell Soup in a report on Sunday, September 4th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. Campbell Soup currently has an average rating of “Hold” and a consensus target price of $59.83.
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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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