$2.24 Billion in Sales Expected for Campbell Soup (CPB) This Quarter

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Brokerages forecast that Campbell Soup (NYSE:CPB) will post $2.24 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Campbell Soup’s earnings, with estimates ranging from $2.23 billion to $2.27 billion. Campbell Soup posted sales of $1.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 34.9%. The company is expected to report its next earnings report on Thursday, August 30th.

On average, analysts expect that Campbell Soup will report full-year sales of $8.70 billion for the current financial year, with estimates ranging from $8.65 billion to $8.73 billion. For the next fiscal year, analysts expect that the firm will report sales of $10.27 billion per share, with estimates ranging from $10.02 billion to $10.51 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Campbell Soup.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Friday, May 18th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.10. Campbell Soup had a return on equity of 56.59% and a net margin of 5.97%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year.

A number of research analysts recently weighed in on CPB shares. Bank of America lowered Campbell Soup from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $34.37 to $31.00 in a report on Monday, May 21st. Credit Suisse Group set a $32.00 price objective on Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 13th. Zacks Investment Research raised Campbell Soup from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, April 18th. ValuEngine lowered Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Gabelli reaffirmed a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. Eleven analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $41.50.

Campbell Soup traded down $0.93, reaching $41.35, on Friday, MarketBeat.com reports. 4,290,187 shares of the company’s stock were exchanged, compared to its average volume of 4,673,463. Campbell Soup has a twelve month low of $32.63 and a twelve month high of $54.37. The firm has a market capitalization of $12.71 billion, a PE ratio of 13.60, a P/E/G ratio of 2.61 and a beta of 0.28. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.68 and a quick ratio of 0.37.

The company also recently announced a quarterly dividend, which was paid on Monday, July 30th. Shareholders of record on Friday, July 13th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, July 12th. Campbell Soup’s dividend payout ratio (DPR) is 46.05%.

In other news, Director Maria Teresa Hilado bought 2,000 shares of the stock in a transaction on Wednesday, June 6th. The shares were bought at an average price of $33.22 per share, with a total value of $66,440.00. Following the completion of the acquisition, the director now owns 4,330 shares of the company’s stock, valued at $143,842.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 37.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its holdings in Campbell Soup by 1,609.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,564 shares of the company’s stock valued at $104,000 after purchasing an additional 2,414 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Campbell Soup by 180.0% during the first quarter. Whittier Trust Co. now owns 2,800 shares of the company’s stock valued at $121,000 after acquiring an additional 1,800 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of Campbell Soup during the second quarter valued at $130,000. Jolley Asset Management LLC acquired a new stake in shares of Campbell Soup during the second quarter valued at $141,000. Finally, Tompkins Financial Corp boosted its stake in shares of Campbell Soup by 94.1% during the second quarter. Tompkins Financial Corp now owns 4,145 shares of the company’s stock valued at $168,000 after acquiring an additional 2,010 shares during the last quarter. 49.06% of the stock is currently owned by institutional investors.

About Campbell Soup

Campbell Soup Co engages in manufacturing and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: 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 businesses in the U.S., Canada and Latin America.

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