FY2018 Earnings Forecast for Campbell Soup Company Issued By Gabelli (CPB)
Campbell Soup Company (NYSE:CPB) – Equities researchers at Gabelli cut their FY2018 earnings estimates for Campbell Soup in a report released on Wednesday. Gabelli analyst S. Donnelly now expects that the company will earn $3.00 per share for the year, down from their previous forecast of $3.10. Gabelli also issued estimates for Campbell Soup’s FY2019 earnings at $3.15 EPS, FY2020 earnings at $3.35 EPS and FY2022 earnings at $3.65 EPS.
Several other brokerages have also recently issued reports on CPB. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 target price (down previously from $56.00) on shares of Campbell Soup in a report on Monday, September 11th. UBS AG dropped their target price on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, November 9th. Royal Bank Of Canada dropped their target price on shares of Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday. Morgan Stanley dropped their target price on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, October 13th. Finally, Zacks Investment Research cut shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Monday, September 4th. Seven analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.00.
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Shares of Campbell Soup (NYSE:CPB) traded down $0.73 during mid-day trading on Thursday, reaching $46.04. 1,199,549 shares of the company traded hands, compared to its average volume of 1,986,769. Campbell Soup has a 52 week low of $44.99 and a 52 week high of $64.23. The company has a quick ratio of 0.42, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $14,055.72, a PE ratio of 15.91, a P/E/G ratio of 3.54 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last issued its earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in CPB. Motco increased its holdings in Campbell Soup by 301.9% in the 2nd quarter. Motco now owns 2,130 shares of the company’s stock valued at $111,000 after acquiring an additional 1,600 shares during the last quarter. First Personal Financial Services grew its stake in shares of Campbell Soup by 180.9% in the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after buying an additional 1,724 shares in the last quarter. Mercer Capital Advisers Inc. grew its stake in shares of Campbell Soup by 13.6% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock worth $176,000 after buying an additional 405 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Campbell Soup in the 3rd quarter worth $175,000. Finally, Victory Capital Management Inc. grew its stake in shares of Campbell Soup by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.
In other news, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Luca Mignini acquired 4,300 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the transaction, the insider now directly owns 88,178 shares in the company, valued at $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 annualized dividend and a yield of 3.04%. Campbell Soup’s payout ratio is presently 48.95%.
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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