Campbell Soup (NYSE:CPB) Updates FY20 Earnings Guidance

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Campbell Soup (NYSE:CPB) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.50-2.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.52. The company issued revenue guidance of (1%) to 1% to $8.03-8.19 billion, compared to the consensus revenue estimate of $8.11 billion.Campbell Soup also updated its FY 2020
Pre-Market guidance to 2.50-2.55 EPS.

CPB has been the subject of several recent analyst reports. Piper Jaffray Companies raised shares of Campbell Soup from an underweight rating to a neutral rating and upped their target price for the stock from $40.00 to $45.00 in a report on Tuesday, September 3rd. Bank of America raised their price target on Campbell Soup from $36.00 to $40.00 and gave the company an underperform rating in a report on Tuesday, September 3rd. ValuEngine cut Campbell Soup from a hold rating to a sell rating in a report on Tuesday, November 26th. Royal Bank of Canada started coverage on Campbell Soup in a research report on Thursday, October 17th. They issued an outperform rating and a $55.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Campbell Soup from $41.00 to $48.00 in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $43.82.

Shares of NYSE:CPB opened at $47.58 on Wednesday. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 3.11 and a beta of 0.42. The firm has a fifty day moving average price of $46.94 and a 200 day moving average price of $43.60. Campbell Soup has a fifty-two week low of $32.03 and a fifty-two week high of $48.39. The company has a debt-to-equity ratio of 6.39, a quick ratio of 0.33 and a current ratio of 0.58.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Wednesday, January 8th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. Campbell Soup’s dividend payout ratio is currently 60.87%.

In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $47.16, for a total value of $759,087.36. Following the sale, the senior vice president now owns 70,984 shares in the company, valued at approximately $3,347,605.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 36.48% of the company’s stock.

About Campbell Soup

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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Earnings History and Estimates for Campbell Soup (NYSE:CPB)

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