Campbell Soup (NYSE:CPB) issued its earnings results on Friday. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08, MarketWatch Earnings reports. Campbell Soup had a return on equity of 54.23% and a net margin of 3.19%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Campbell Soup updated its FY 2020 guidance to $2.50-2.55 EPS and its FY20 guidance to $2.50-2.55 EPS.
Campbell Soup stock opened at $45.00 on Monday. The company has a debt-to-equity ratio of 6.07, a quick ratio of 0.36 and a current ratio of 0.62. The stock has a fifty day moving average of $41.92 and a two-hundred day moving average of $39.22. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.38 and a beta of 0.51. Campbell Soup has a fifty-two week low of $32.03 and a fifty-two week high of $48.03.
Several research firms recently weighed in on CPB. Wells Fargo & Co raised their price objective on Campbell Soup from $38.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, June 6th. Barclays reaffirmed a “sell” rating and issued a $43.00 price objective on shares of Campbell Soup in a research note on Sunday, June 16th. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Friday, June 7th. ValuEngine raised Campbell Soup from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Evercore ISI began coverage on Campbell Soup in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $43.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.40.
A number of institutional investors have recently added to or reduced their stakes in CPB. Price T Rowe Associates Inc. MD increased its position in Campbell Soup by 34.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,079,326 shares of the company’s stock worth $203,529,000 after buying an additional 1,306,435 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Campbell Soup during the second quarter worth $39,377,000. Vanguard Group Inc. increased its position in Campbell Soup by 4.6% during the second quarter. Vanguard Group Inc. now owns 20,494,448 shares of the company’s stock worth $821,213,000 after buying an additional 893,192 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Campbell Soup during the second quarter worth $31,379,000. Finally, State of Wisconsin Investment Board purchased a new position in Campbell Soup during the first quarter worth $17,578,000. 51.25% of the stock is owned by institutional investors.
Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded 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 products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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