Campbell Soup (CPB) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS
Campbell Soup (NYSE:CPB) issued its earnings results on Tuesday. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.69 by $0.10, Bloomberg Earnings reports. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. Campbell Soup’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. Campbell Soup updated its FY 2019 guidance to $2.45-2.53 EPS and its FY19 guidance to $2.45-2.53 EPS.
Shares of NYSE:CPB traded down $0.43 during midday trading on Wednesday, reaching $40.12. The company’s stock had a trading volume of 26,153 shares, compared to its average volume of 2,557,038. Campbell Soup has a fifty-two week low of $32.63 and a fifty-two week high of $51.07. The firm has a market cap of $11.56 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.70 and a beta of 0.13. The company has a debt-to-equity ratio of 5.83, a quick ratio of 0.31 and a current ratio of 0.64.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, October 12th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.49%. Campbell Soup’s dividend payout ratio (DPR) is presently 48.78%.
Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Campbell Soup by 1.6% in the second quarter. Russell Investments Group Ltd. now owns 80,449 shares of the company’s stock worth $3,267,000 after purchasing an additional 1,254 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Campbell Soup in the second quarter worth about $328,000. LFA Lugano Financial Advisors SA acquired a new stake in Campbell Soup in the second quarter worth about $175,000. Standard Life Aberdeen plc increased its position in Campbell Soup by 0.9% in the second quarter. Standard Life Aberdeen plc now owns 308,175 shares of the company’s stock worth $12,498,000 after purchasing an additional 2,697 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Campbell Soup by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 619,214 shares of the company’s stock worth $25,103,000 after purchasing an additional 7,583 shares during the period. Institutional investors own 55.65% of the company’s stock.
A number of research analysts have issued reports on CPB shares. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Piper Jaffray Companies set a $35.00 price objective on Campbell Soup and gave the company an “underweight” rating in a report on Friday, September 14th. Wells Fargo & Co reissued a “hold” rating on shares of Campbell Soup in a report on Friday, October 5th. Deutsche Bank set a $40.00 price objective on Campbell Soup and gave the company a “hold” rating in a report on Wednesday. Finally, Credit Suisse Group set a $33.00 price objective on Campbell Soup and gave the company a “sell” rating in a report on Tuesday. Eleven analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.00.
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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