Campbell Soup (NYSE:CPB) Issues Quarterly Earnings Results

Campbell Soup (NYSE:CPBGet Rating) issued its quarterly earnings results on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Campbell Soup updated its FY22 guidance to $2.75-2.85 EPS and its FY 2022 guidance to $2.75-$2.85 EPS.

CPB stock traded up $0.64 during trading on Friday, reaching $47.64. 32,888 shares of the company were exchanged, compared to its average volume of 2,664,017. The company has a 50-day moving average of $47.18 and a two-hundred day moving average of $44.84. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 10.57 and a beta of 0.40. Campbell Soup has a twelve month low of $39.76 and a twelve month 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. Investors of record on Thursday, July 7th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, July 6th. Campbell Soup’s dividend payout ratio is 47.28%.

CPB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Campbell Soup from $47.00 to $49.00 in a research note on Thursday. Citigroup boosted their price objective on shares of Campbell Soup from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday. Credit Suisse Group boosted their price objective on shares of Campbell Soup to $46.00 in a research note on Thursday. UBS Group upped their price target on shares of Campbell Soup to $43.00 in a research note on Thursday. Finally, Royal Bank of Canada lowered shares of Campbell Soup from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $47.00 to $46.00 in a research note on Monday, March 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in shares of Campbell Soup by 149.8% during the first quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock worth $27,000 after buying an additional 358 shares during the period. Advisors Asset Management Inc. increased its position in shares of Campbell Soup by 6.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,743 shares of the company’s stock worth $163,000 after buying an additional 239 shares during the period. Covestor Ltd boosted its stake in Campbell Soup by 79.0% during the first quarter. Covestor Ltd now owns 3,891 shares of the company’s stock worth $173,000 after acquiring an additional 1,717 shares in the last quarter. Cibc World Market Inc. bought a new position in Campbell Soup during the first quarter worth $203,000. Finally, Captrust Financial Advisors boosted its stake in Campbell Soup by 44.5% during the first quarter. Captrust Financial Advisors now owns 4,981 shares of the company’s stock worth $222,000 after acquiring an additional 1,533 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

About Campbell Soup (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.

Further Reading

Earnings History for Campbell Soup (NYSE:CPB)

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