Campbell Soup (NYSE:CPB) Issues Earnings Results, Beats Estimates By $0.09 EPS

Campbell Soup (NYSE:CPB – Get Rating) issued its quarterly earnings data on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09, RTT News reports. Campbell Soup had a return on equity of 26.07% and a net margin of 11.23%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Campbell Soup updated its FY22 guidance to $2.75-2.85 EPS and its FY 2022 guidance to $2.75-$2.85 EPS.

Shares of NYSE CPB traded up $0.64 during mid-day trading on Friday, hitting $47.64. 32,888 shares of the stock were exchanged, compared to its average volume of 2,664,017. The company has a market cap of $14.37 billion, a P/E ratio of 14.95, a PEG ratio of 10.57 and a beta of 0.40. The stock’s fifty day simple moving average is $47.18 and its two-hundred day simple moving average is $44.84. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.46 and a current ratio of 0.69. Campbell Soup has a twelve month low of $39.76 and a twelve month high of $51.94.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, July 6th. Campbell Soup’s payout ratio is 47.28%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Campbell Soup by 118.7% during the first quarter. Bank of America Corp DE now owns 413,586 shares of the company’s stock worth $18,433,000 after buying an additional 224,439 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Campbell Soup by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 161,750 shares of the company’s stock valued at $7,209,000 after purchasing an additional 573 shares in the last quarter. Toroso Investments LLC acquired a new stake in shares of Campbell Soup in the first quarter valued at approximately $389,000. Gabelli Funds LLC increased its holdings in shares of Campbell Soup by 0.5% in the first quarter. Gabelli Funds LLC now owns 188,000 shares of the company’s stock valued at $8,379,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of Campbell Soup by 201.0% in the first quarter. Worldquant Millennium Advisors LLC now owns 381,297 shares of the company’s stock valued at $16,994,000 after purchasing an additional 254,619 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

A number of research firms have weighed in on CPB. Royal Bank of Canada downgraded Campbell Soup from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $47.00 to $46.00 in a research report on Monday, March 28th. StockNews.com raised shares of Campbell Soup from a “hold” rating to a “buy” rating in a research note on Saturday, May 14th. Stifel Nicolaus increased their target price on shares of Campbell Soup from $46.00 to $48.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Campbell Soup from $47.00 to $49.00 in a report on Thursday. Finally, Credit Suisse Group increased their target price on shares of Campbell Soup to $46.00 in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.00.

Campbell Soup Company Profile (Get Rating)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

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