Campbell Soup Company (CPB) Shares Down 1.5% After Earnings Miss
Shares of Campbell Soup Company (NYSE:CPB) dropped 1.5% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $45.14 and last traded at $46.51. Approximately 2,317,507 shares traded hands during trading, an increase of 17% from the average daily volume of 1,977,984 shares. The stock had previously closed at $45.84.
The company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.05). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. Campbell Soup’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio (DPR) is 48.95%.
CPB has been the topic of several research analyst reports. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies set a $50.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Deutsche Bank AG reissued a “hold” rating and set a $51.00 price target (down previously from $58.00) on shares of Campbell Soup in a research note on Friday, September 1st. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Goldman Sachs Group, Inc. (The) decreased their price target on Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Sunday, September 3rd. Seven research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.18.
In other Campbell Soup news, insider Luca Mignini purchased 4,300 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was bought at an average cost of $46.47 per share, for a total transaction of $199,821.00. Following the acquisition, the insider now owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $46.46, for a total value of $107,043.84. The disclosure for this sale can be found here. Insiders own 37.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Robinson Value Management Ltd. raised its holdings in Campbell Soup by 8.0% in the 3rd quarter. Robinson Value Management Ltd. now owns 22,073 shares of the company’s stock valued at $1,033,000 after acquiring an additional 1,630 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Campbell Soup in the 3rd quarter valued at $618,000. IFM Investors Pty Ltd acquired a new position in Campbell Soup in the 3rd quarter valued at $290,000. California Public Employees Retirement System raised its holdings in Campbell Soup by 6.1% in the 3rd quarter. California Public Employees Retirement System now owns 418,433 shares of the company’s stock valued at $19,591,000 after acquiring an additional 23,933 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Campbell Soup by 94.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,945 shares of the company’s stock valued at $653,000 after acquiring an additional 6,787 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.
The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. The stock has a market cap of $14,060.00, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 3.66 and a beta of 0.38.
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Campbell Soup Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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