Campbell Soup (NYSE:CPB) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Campbell Soup (NYSE:CPB – Get Rating) announced its earnings results on Wednesday. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09, RTT News reports. Campbell Soup had a net margin of 11.23% and a return on equity of 26.07%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Campbell Soup updated its FY22 guidance to $2.75-2.85 EPS and its FY 2022 guidance to $2.75-$2.85 EPS.

Shares of CPB opened at $47.00 on Friday. The firm has a market capitalization of $14.18 billion, a PE ratio of 15.02, a PEG ratio of 10.57 and a beta of 0.40. The company’s 50-day moving average is $47.18 and its 200-day moving average is $44.84. Campbell Soup has a fifty-two week low of $39.76 and a fifty-two week high of $51.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.69 and a quick ratio of 0.46.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, July 6th. Campbell Soup’s payout ratio is presently 47.28%.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Campbell Soup by 118.7% in the first quarter. Bank of America Corp DE now owns 413,586 shares of the company’s stock valued at $18,433,000 after acquiring an additional 224,439 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Campbell Soup by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 161,750 shares of the company’s stock valued at $7,209,000 after acquiring an additional 573 shares in the last quarter. Toroso Investments LLC acquired a new position in shares of Campbell Soup in the first quarter valued at about $389,000. Gabelli Funds LLC grew its stake in shares of Campbell Soup by 0.5% in the first quarter. Gabelli Funds LLC now owns 188,000 shares of the company’s stock valued at $8,379,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Campbell Soup by 201.0% in the first quarter. Worldquant Millennium Advisors LLC now owns 381,297 shares of the company’s stock valued at $16,994,000 after acquiring an additional 254,619 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

Several research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Campbell Soup from $46.00 to $48.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Campbell Soup from $47.00 to $49.00 in a report on Thursday. Credit Suisse Group upped their price target on shares of Campbell Soup to $46.00 in a research report on Thursday. StockNews.com raised shares of Campbell Soup from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. Finally, Zacks Investment Research lowered shares of Campbell Soup from a “hold” rating to a “sell” rating and set a $49.00 price target on the stock. in a research report on Friday, June 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.00.

Campbell Soup Company Profile (Get Rating)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

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