Campbell Soup (NYSE:CPB) Expected to Announce Quarterly Sales of $2.19 Billion

Wall Street brokerages expect that Campbell Soup (NYSE:CPB) will post $2.19 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Campbell Soup’s earnings, with the lowest sales estimate coming in at $2.16 billion and the highest estimate coming in at $2.21 billion. Campbell Soup posted sales of $2.69 billion in the same quarter last year, which would indicate a negative year over year growth rate of 18.6%. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, December 4th.

According to Zacks, analysts expect that Campbell Soup will report full year sales of $8.25 billion for the current year, with estimates ranging from $8.16 billion to $8.31 billion. For the next year, analysts expect that the firm will post sales of $8.21 billion, with estimates ranging from $8.06 billion to $8.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Campbell Soup.

Campbell Soup (NYSE:CPB) last posted its earnings results on Friday, August 30th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.08. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS.

Several research firms recently weighed in on CPB. JPMorgan Chase & Co. lifted their target price on shares of Campbell Soup from $41.00 to $48.00 in a report on Tuesday, September 3rd. Bank of America lifted their target price on shares of Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, September 3rd. Citigroup lifted their target price on shares of Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Royal Bank of Canada initiated coverage on shares of Campbell Soup in a report on Thursday, October 17th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, Piper Jaffray Companies upgraded shares of Campbell Soup from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $45.00 in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Campbell Soup presently has an average rating of “Hold” and a consensus target price of $43.82.

In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $47.16, for a total value of $759,087.36. Following the transaction, the senior vice president now owns 70,984 shares in the company, valued at approximately $3,347,605.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 36.48% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Massey Quick Simon & CO. LLC purchased a new stake in Campbell Soup in the third quarter worth $25,000. Citizens Financial Group Inc RI bought a new position in Campbell Soup in the second quarter valued at about $28,000. Meeder Asset Management Inc. lifted its holdings in Campbell Soup by 204.7% in the second quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock valued at $31,000 after acquiring an additional 526 shares during the period. Strategic Blueprint LLC bought a new position in Campbell Soup in the third quarter valued at about $47,000. Finally, AdvisorNet Financial Inc lifted its holdings in Campbell Soup by 1,207.5% in the third quarter. AdvisorNet Financial Inc now owns 1,046 shares of the company’s stock valued at $49,000 after acquiring an additional 966 shares during the period. Hedge funds and other institutional investors own 50.88% of the company’s stock.

Shares of NYSE:CPB traded up $0.19 during midday trading on Friday, hitting $46.76. 102,928 shares of the company’s stock traded hands, compared to its average volume of 1,525,518. The company has a debt-to-equity ratio of 6.39, a quick ratio of 0.33 and a current ratio of 0.58. The company has a market cap of $14.03 billion, a PE ratio of 20.33, a P/E/G ratio of 3.11 and a beta of 0.42. The firm’s fifty day moving average price is $46.95 and its two-hundred day moving average price is $43.44. Campbell Soup has a twelve month low of $32.03 and a twelve month high of $48.39.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Wednesday, January 8th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $1.40 dividend on an annualized basis and a yield of 2.99%. Campbell Soup’s dividend payout ratio is currently 60.87%.

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 and Estimates for Campbell Soup (NYSE:CPB)

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