Campbell Soup (CPB) Announces Earnings Results

Campbell Soup (NYSE:CPB) announced its earnings results on Friday, February 16th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19, Bloomberg Earnings reports. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Campbell Soup updated its FY18 guidance to $3.10-3.17 EPS.

Shares of Campbell Soup (NYSE:CPB) traded up $0.16 on Friday, hitting $44.12. The stock had a trading volume of 2,462,813 shares, compared to its average volume of 3,162,778. Campbell Soup has a 1 year low of $42.82 and a 1 year high of $59.94. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $13,214.68, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 3.12 and a beta of 0.32.

Campbell Soup announced that its Board of Directors has approved a share repurchase program on Monday, December 18th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the sale, the insider now owns 41,506 shares in the company, valued at $1,998,513.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Luca Mignini bought 4,400 shares of the stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $45.53 per share, for a total transaction of $200,332.00. Following the purchase, the insider now directly owns 87,814 shares of the company’s stock, valued at $3,998,171.42. The disclosure for this purchase can be found here. Insiders sold 15,284 shares of company stock worth $741,399 in the last 90 days. Company insiders own 37.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CPB. First Personal Financial Services boosted its stake in shares of Campbell Soup by 180.9% in the third 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 during the last quarter. Cordasco Financial Network purchased a new position in Campbell Soup during the fourth quarter worth approximately $144,000. Whittier Trust Co. of Nevada Inc. boosted its position in Campbell Soup by 199.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock worth $144,000 after purchasing an additional 1,998 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Campbell Soup during the third quarter worth approximately $175,000. Finally, Confluence Wealth Management LLC purchased a new position in Campbell Soup during the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Several brokerages recently issued reports on CPB. Morgan Stanley reduced their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $48.00 price objective (down from $50.00) on shares of Campbell Soup in a report on Tuesday. Wolfe Research assumed coverage on Campbell Soup in a report on Friday, January 26th. They issued a “market perform” rating on the stock. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Citigroup raised Campbell Soup from a “neutral” rating to a “buy” rating and increased their price objective for the company from $45.51 to $57.00 in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Campbell Soup has a consensus rating of “Hold” and a consensus target price of $49.36.

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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.

Earnings History for Campbell Soup (NYSE:CPB)

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