$2.35 Billion in Sales Expected for Campbell Soup (CPB) This Quarter
Wall Street analysts expect that Campbell Soup (NYSE:CPB) will report sales of $2.35 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Campbell Soup’s earnings, with estimates ranging from $2.23 billion to $2.40 billion. Campbell Soup posted sales of $2.13 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The business is scheduled to announce its next quarterly earnings results on Friday, May 17th.
According to Zacks, analysts expect that Campbell Soup will report full-year sales of $9.95 billion for the current fiscal year, with estimates ranging from $9.82 billion to $10.03 billion. For the next fiscal year, analysts expect that the company will report sales of $9.91 billion, with estimates ranging from $9.69 billion to $10.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Campbell Soup.
Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Wednesday, February 27th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.07. Campbell Soup had a positive return on equity of 55.51% and a negative net margin of 1.68%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company posted $1.00 earnings per share. The business’s revenue was up 24.4% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of CPB. JOYN Advisors Inc. raised its position in shares of Campbell Soup by 99.5% during the 4th quarter. JOYN Advisors Inc. now owns 766 shares of the company’s stock worth $25,000 after purchasing an additional 382 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Campbell Soup by 71.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 894 shares of the company’s stock worth $29,000 after purchasing an additional 373 shares during the last quarter. Csenge Advisory Group acquired a new position in shares of Campbell Soup during the 3rd quarter worth approximately $33,000. Flagship Harbor Advisors LLC raised its position in shares of Campbell Soup by 49.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,283 shares of the company’s stock worth $42,000 after purchasing an additional 425 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Campbell Soup by 64.9% during the 4th quarter. Bessemer Group Inc. now owns 1,563 shares of the company’s stock worth $51,000 after purchasing an additional 615 shares during the last quarter. Institutional investors own 52.55% of the company’s stock.
CPB traded up $0.26 during trading on Monday, reaching $39.39. The company’s stock had a trading volume of 1,573,053 shares, compared to its average volume of 2,701,315. Campbell Soup has a 52-week low of $32.03 and a 52-week high of $43.98. The firm has a market capitalization of $11.86 billion, a PE ratio of 13.72, a P/E/G ratio of 2.68 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.37 and a debt-to-equity ratio of 6.26.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 11th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, April 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.55%. Campbell Soup’s payout ratio is 48.78%.
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.
Further Reading: Buy-Side Analysts
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