$2.30 Billion in Sales Expected for Campbell Soup (NYSE:CPB) This Quarter

Wall Street brokerages forecast that Campbell Soup (NYSE:CPB) will announce $2.30 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Campbell Soup’s earnings, with estimates ranging from $2.20 billion to $2.51 billion. Campbell Soup posted sales of $2.69 billion in the same quarter last year, which suggests a negative year over year growth rate of 14.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 19th.

On average, analysts expect that Campbell Soup will report full year sales of $8.33 billion for the current financial year, with estimates ranging from $8.27 billion to $8.43 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.57 billion, with estimates ranging from $8.20 billion to $9.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Campbell Soup.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Friday, August 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.08. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share.



A number of equities research analysts have weighed in on the stock. UBS Group set a $36.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a report on Thursday, June 6th. Credit Suisse Group boosted their target price on shares of Campbell Soup from $30.00 to $36.00 and gave the stock an “underperform” rating in a report on Thursday, June 6th. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Friday, June 7th. Bank of America boosted their target price on shares of Campbell Soup from $36.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, September 3rd. Finally, Piper Jaffray Companies raised shares of Campbell Soup from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $40.00 to $45.00 in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.45.

CPB traded up $0.41 during trading on Friday, reaching $46.56. 1,713,844 shares of the company’s stock were exchanged, compared to its average volume of 2,449,904. Campbell Soup has a one year low of $32.03 and a one year high of $48.03. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 6.39. The stock has a market capitalization of $14.08 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 3.07 and a beta of 0.44. The firm has a fifty day moving average price of $44.20 and a two-hundred day moving average price of $40.60.

In other news, insider Robert Furbee sold 6,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $40.10, for a total value of $240,600.00. Following the sale, the insider now directly owns 18,015 shares of the company’s stock, valued at approximately $722,401.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 37.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CPB. Roble Belko & Company Inc bought a new position in Campbell Soup during the first quarter worth $27,000. Citizens Financial Group Inc RI bought a new position in Campbell Soup during the second quarter worth $28,000. Meeder Asset Management Inc. boosted its stake in Campbell Soup by 204.7% during the second quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock worth $31,000 after acquiring an additional 526 shares in the last quarter. Penserra Capital Management LLC bought a new position in Campbell Soup during the first quarter worth $39,000. Finally, Point72 Hong Kong Ltd bought a new position in Campbell Soup during the second quarter worth $57,000. 52.18% of the stock is currently owned by institutional investors and hedge funds.

About Campbell Soup

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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