Campbell Soup Co. (NYSE:CPB) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $52.92, but opened at $55.04. Campbell Soup shares last traded at $57.02, with a volume of 4,060,637 shares.

The company reported $1.00 earnings per share for the quarter, topping the Zacks’ 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 earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Wednesday, January 11th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 9th. This represents a $1.40 annualized dividend and a yield of 2.46%. Campbell Soup’s payout ratio is currently 77.78%.

Several equities analysts recently commented on CPB shares. Deutsche Bank AG dropped their target price on Campbell Soup from $63.00 to $61.00 and set a “hold” rating for the company in a research note on Friday, August 26th. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Wednesday, August 24th. TheStreet lowered Campbell Soup from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Wells Fargo & Co. set a $59.50 target price on Campbell Soup and gave the company a “hold” rating in a research note on Sunday, September 4th. Finally, Argus lowered Campbell Soup from a “buy” rating to a “hold” rating and upped their target price for the company from $47.77 to $55.38 in a research note on Monday, September 19th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.83.

In related news, insider Edward Carolan sold 2,400 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was 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 legal filing with the SEC, which is available at this hyperlink. Also, VP William J. O’shea sold 13,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $57.74, for a total value 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 owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC boosted 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 boosted its stake 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 valued at $4,151,000 after buying an additional 1,212,300 shares during the last quarter. Jefferies Group LLC boosted its stake 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 valued at $3,584,000 after buying an additional 1,168,992 shares during the last quarter. BlackRock Fund Advisors boosted its stake 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 valued at $312,270,000 after buying an additional 1,087,074 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Campbell Soup by 97.8% in the third quarter. Schroder Investment Management Group now owns 2,124,993 shares of the company’s stock valued at $116,237,000 after buying an additional 1,050,882 shares during the last quarter. Institutional investors and hedge funds own 42.90% of the company’s stock.

The stock has a market cap of $17.56 billion, a PE ratio of 31.50 and a beta of 0.40. The stock’s 50 day moving average is $54.00 and its 200 day moving average is $59.40.

ILLEGAL ACTIVITY WARNING: This report was published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this report on another site, it was stolen and reposted in violation of United States and international copyright legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2016/11/23/campbell-soup-co-cpb-shares-gap-up-on-better-than-expected-earnings.html.

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.

5 Day Chart for NYSE:CPB

Receive News & Stock Ratings for Campbell Soup Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup Co. and related stocks with our FREE daily email newsletter.