Campbell Soup (NYSE:CPB – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $2.85-$2.95 for the period, compared to the consensus earnings per share estimate of $2.92. The company issued revenue guidance of $8.90 billion-$9.08 billion, compared to the consensus revenue estimate of $8.79 billion.
Campbell Soup Stock Performance
CPB stock opened at $49.18 on Friday. Campbell Soup has a 12-month low of $39.76 and a 12-month high of $51.94. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $49.27 and a 200-day moving average of $47.43. The firm has a market cap of $14.78 billion, a PE ratio of 19.67, a P/E/G ratio of 5.65 and a beta of 0.35.
Campbell Soup (NYSE:CPB – Get Rating) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. Campbell Soup had a net margin of 8.84% and a return on equity of 25.81%. Campbell Soup’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, sell-side analysts expect that Campbell Soup will post 2.9 earnings per share for the current year.
Campbell Soup Announces Dividend
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Campbell Soup from $47.00 to $46.00 and set a neutral rating for the company in a research report on Friday, September 2nd. StockNews.com downgraded shares of Campbell Soup from a buy rating to a hold rating in a research report on Monday. Citigroup raised their target price on Campbell Soup from $46.00 to $50.00 and gave the company a neutral rating in a research note on Thursday, June 9th. UBS Group lifted their price target on Campbell Soup to $45.00 in a research note on Monday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Campbell Soup from $49.00 to $50.00 in a report on Monday, August 22nd. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat.com, Campbell Soup has an average rating of Hold and a consensus target price of $47.89.
Insider Activity at Campbell Soup
In other news, EVP Adam G. Ciongoli sold 32,194 shares of Campbell Soup stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $49.75, for a total value of $1,601,651.50. Following the transaction, the executive vice president now owns 129,919 shares in the company, valued at $6,463,470.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Stanley Polomski sold 10,335 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $48.20, for a total value of $498,147.00. Following the sale, the vice president now directly owns 28,176 shares of the company’s stock, valued at approximately $1,358,083.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Adam G. Ciongoli sold 32,194 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $49.75, for a total transaction of $1,601,651.50. Following the transaction, the executive vice president now owns 129,919 shares in the company, valued at $6,463,470.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,453 shares of company stock valued at $2,996,178. Company insiders own 35.62% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its holdings in Campbell Soup by 149.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after purchasing an additional 358 shares during the last quarter. Covestor Ltd increased its holdings in shares of Campbell Soup by 79.0% in the 1st quarter. Covestor Ltd now owns 3,891 shares of the company’s stock valued at $173,000 after purchasing an additional 1,717 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Campbell Soup by 11.4% during the 1st quarter. Advisors Asset Management Inc. now owns 4,170 shares of the company’s stock valued at $186,000 after acquiring an additional 427 shares in the last quarter. Cibc World Market Inc. acquired a new stake in shares of Campbell Soup during the 1st quarter worth about $203,000. Finally, Captrust Financial Advisors boosted its position in shares of Campbell Soup by 44.5% in the first quarter. Captrust Financial Advisors now owns 4,981 shares of the company’s stock worth $222,000 after acquiring an additional 1,533 shares during the last quarter. Hedge funds and other institutional investors own 51.16% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.
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