Campbell Soup (NYSE:CPB) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Campbell Soup (NYSE:CPB) announced its quarterly earnings data on Friday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.08, Briefing.com reports. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Campbell Soup had a net margin of 3.19% and a return on equity of 54.23%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Campbell Soup updated its FY 2020 guidance to $2.50-2.55 EPS and its FY20 guidance to $2.50-2.55 EPS.

Campbell Soup stock opened at $46.01 on Friday. The firm’s 50 day simple moving average is $41.81 and its 200-day simple moving average is $39.16. The company has a market cap of $12.66 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51. The company has a debt-to-equity ratio of 6.07, a current ratio of 0.62 and a quick ratio of 0.36. Campbell Soup has a fifty-two week low of $32.03 and a fifty-two week high of $43.84.

In other news, Director Randall W. Larrimore sold 3,400 shares of Campbell Soup stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $41.36, for a total value of $140,624.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Furbee sold 6,000 shares of Campbell Soup stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $40.10, for a total transaction of $240,600.00. Following the completion of the transaction, the insider now directly owns 18,015 shares in the company, valued at $722,401.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,132 shares of company stock worth $780,333. 37.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Norinchukin Bank The boosted its holdings in shares of Campbell Soup by 3.6% during the first quarter. Norinchukin Bank The now owns 36,566 shares of the company’s stock worth $1,394,000 after purchasing an additional 1,273 shares during the period. Enlightenment Research LLC acquired a new stake in shares of Campbell Soup during the second quarter worth approximately $228,000. First Trust Advisors LP boosted its holdings in shares of Campbell Soup by 30.6% during the first quarter. First Trust Advisors LP now owns 991,974 shares of the company’s stock worth $37,824,000 after purchasing an additional 232,463 shares during the period. Alphasimplex Group LLC boosted its holdings in shares of Campbell Soup by 9.1% during the first quarter. Alphasimplex Group LLC now owns 37,124 shares of the company’s stock worth $1,416,000 after purchasing an additional 3,111 shares during the period. Finally, Burney Co. boosted its holdings in shares of Campbell Soup by 19.5% during the first quarter. Burney Co. now owns 19,964 shares of the company’s stock worth $761,000 after purchasing an additional 3,262 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on CPB. JPMorgan Chase & Co. raised shares of Campbell Soup from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $40.00 to $41.00 in a research note on Tuesday, August 20th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research note on Friday, June 7th. Credit Suisse Group lifted their price objective on shares of Campbell Soup from $30.00 to $36.00 and gave the stock an “underperform” rating in a research note on Thursday, June 6th. UBS Group set a $36.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Thursday, June 6th. Finally, Wells Fargo & Co lifted their price objective on shares of Campbell Soup from $38.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, June 6th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Campbell Soup currently has an average rating of “Hold” and a consensus price target of $39.40.

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 for Campbell Soup (NYSE:CPB)

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