Campbell Soup (NYSE:CPB) announced its earnings results on Friday. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.10, Bloomberg Earnings reports. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. Campbell Soup’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Campbell Soup updated its FY18 guidance to $2.85-2.90 EPS.
Shares of Campbell Soup traded down $4.85, hitting $34.37, during trading hours on Friday, MarketBeat Ratings reports. 30,679,869 shares of the company’s stock traded hands, compared to its average volume of 2,744,266. Campbell Soup has a 52 week low of $34.09 and a 52 week high of $59.14. The company has a current ratio of 0.64, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.96 and a beta of 0.33.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Wednesday, April 11th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, April 10th. This represents a $1.40 annualized dividend and a dividend yield of 4.07%. Campbell Soup’s dividend payout ratio (DPR) is 46.05%.
In other Campbell Soup news, insider Luca Mignini acquired 4,400 shares of Campbell Soup stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $45.53 per share, for a total transaction of $200,332.00. Following the transaction, the insider now owns 87,814 shares in the company, valued at approximately $3,998,171.42. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 37.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Campbell Soup by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 6,513,912 shares of the company’s stock valued at $313,384,000 after buying an additional 20,720 shares in the last quarter. Schroder Investment Management Group lifted its stake in Campbell Soup by 29.7% during the fourth quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock valued at $222,238,000 after buying an additional 1,058,752 shares in the last quarter. APG Asset Management N.V. lifted its stake in Campbell Soup by 7.4% during the fourth quarter. APG Asset Management N.V. now owns 3,808,869 shares of the company’s stock valued at $152,602,000 after buying an additional 263,300 shares in the last quarter. LSV Asset Management lifted its stake in Campbell Soup by 215.7% during the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after buying an additional 2,114,693 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new stake in Campbell Soup during the fourth quarter valued at about $103,733,000. 50.18% of the stock is owned by institutional investors.
CPB has been the subject of a number of recent analyst reports. Piper Jaffray lowered shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 target price for the company. in a research report on Wednesday, February 28th. Zacks Investment Research upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, April 18th. Credit Suisse Group reiterated an “underperform” rating and issued a $40.00 target price on shares of Campbell Soup in a research report on Monday, April 16th. JPMorgan Chase reiterated an “overweight” rating and issued a $48.00 target price (down previously from $50.00) on shares of Campbell Soup in a research report on Tuesday, February 20th. Finally, Wolfe Research initiated coverage on shares of Campbell Soup in a research report on Friday, January 26th. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.82.
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; and Campbell's tomato juices in the United States, Canada, and Latin America.
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