Campbell Soup (NYSE:CPB) Releases Earnings Results, Misses Expectations By $0.09 EPS

Campbell Soup (NYSE:CPB) posted its quarterly earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.09), MarketWatch Earnings reports. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Campbell Soup had a return on equity of 37.35% and a net margin of 9.01%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. Campbell Soup updated its FY 2021 guidance to $2.900-2.930 EPS and its FY21 guidance to $2.90-2.93 EPS.

Shares of CPB stock traded down $2.06 during trading hours on Wednesday, hitting $47.06. 343,651 shares of the company’s stock were exchanged, compared to its average volume of 1,834,131. Campbell Soup has a fifty-two week low of $44.53 and a fifty-two week high of $54.08. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 5.90 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average price is $49.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Wednesday, July 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, July 13th. Campbell Soup’s payout ratio is currently 50.17%.

CPB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Campbell Soup from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, February 25th. Jefferies Financial Group downgraded Campbell Soup from a “buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a research note on Monday, May 24th. Finally, Morgan Stanley lifted their price target on Campbell Soup from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, March 12th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.11.

In related news, EVP Craig Slavtcheff sold 7,000 shares of Campbell Soup stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $48.88, for a total value of $342,160.00. Following the sale, the executive vice president now owns 36,810 shares of the company’s stock, valued at approximately $1,799,272.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 35.64% of the company’s stock.

About Campbell Soup

Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.

Further Reading: Catch-Up Contributions

Earnings History for Campbell Soup (NYSE:CPB)

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