Wall Street analysts expect Campbell Soup (NYSE:CPB) to post sales of $1.96 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Campbell Soup’s earnings, with the lowest sales estimate coming in at $1.89 billion and the highest estimate coming in at $2.09 billion. Campbell Soup reported sales of $1.85 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The firm is scheduled to issue its next earnings report on Friday, May 18th.
According to Zacks, analysts expect that Campbell Soup will report full-year sales of $1.96 billion for the current year, with estimates ranging from $7.92 billion to $8.52 billion. For the next year, analysts forecast that the business will post sales of $8.10 billion per share, with estimates ranging from $8.08 billion to $8.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Campbell Soup.
Campbell Soup (NYSE:CPB) last released its earnings results on Friday, February 16th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share.
In other news, insider Luca Mignini bought 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $45.53 per share, with a total value of $200,332.00. Following the acquisition, the insider now owns 87,814 shares of the company’s stock, valued at approximately $3,998,171.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Corporate insiders own 37.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CPB. Beutel Goodman & Co Ltd. bought a new position in shares of Campbell Soup in the 4th quarter worth $103,733,000. LSV Asset Management increased its holdings in shares of Campbell Soup by 215.7% in the 4th quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock worth $148,909,000 after buying an additional 2,114,693 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Campbell Soup by 29.7% during the 4th quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock valued at $222,238,000 after purchasing an additional 1,058,752 shares during the last quarter. Hexavest Inc. grew its holdings in shares of Campbell Soup by 15,248.8% during the 4th quarter. Hexavest Inc. now owns 733,675 shares of the company’s stock valued at $35,297,000 after purchasing an additional 728,895 shares during the last quarter. Finally, AXA grew its holdings in shares of Campbell Soup by 2,043.4% during the 3rd quarter. AXA now owns 620,342 shares of the company’s stock valued at $29,044,000 after purchasing an additional 591,400 shares during the last quarter. 50.19% of the stock is currently owned by institutional investors and hedge funds.
Campbell Soup stock traded up $0.36 on Monday, reaching $42.53. 1,583,527 shares of the company’s stock were exchanged, compared to its average volume of 3,036,515. The company has a current ratio of 0.64, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $12,962.17, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.38. Campbell Soup has a 52-week low of $40.99 and a 52-week high of $59.14.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Wednesday, April 11th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.29%. Campbell Soup’s payout ratio is currently 40.23%.
Campbell Soup announced that its board has authorized a share buyback program on Monday, December 18th that permits the company to buyback outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products. It operates through three segments: Americas Simple Meals and Beverages; Global Biscuits and Snacks; and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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