Research Analysts Issue Forecasts for Campbell Soup Company’s FY2020 Earnings (NYSE:CPB)
Campbell Soup Company (NYSE:CPB) – Equities research analysts at Gabelli increased their FY2020 earnings per share (EPS) estimates for Campbell Soup in a research report issued to clients and investors on Thursday. Gabelli analyst S. Donnelly now forecasts that the company will earn $3.65 per share for the year, up from their prior forecast of $3.60. Gabelli also issued estimates for Campbell Soup’s FY2021 earnings at $3.85 EPS.
Several other brokerages have also recently issued reports on CPB. Piper Jaffray Companies began coverage on Campbell Soup in a research note on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 price objective on the stock. Credit Suisse Group reissued a “sell” rating on shares of Campbell Soup in a report on Wednesday, May 24th. Wells Fargo & Company reissued a “market perform” rating and issued a $58.00 target price (down previously from $62.50) on shares of Campbell Soup in a report on Tuesday, May 23rd. BidaskClub lowered Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $55.00 target price (down previously from $60.00) on shares of Campbell Soup in a report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.46.
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Shares of Campbell Soup (CPB) traded up 0.15% on Friday, reaching $52.00. The company had a trading volume of 1,061,863 shares. Campbell Soup has a 12 month low of $50.62 and a 12 month high of $64.23. The firm has a market capitalization of $15.76 billion, a PE ratio of 32.83 and a beta of 0.34. The firm’s 50 day moving average is $54.01 and its 200 day moving average is $57.89.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Friday, May 19th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.05. Campbell Soup had a net margin of 6.17% and a return on equity of 59.83%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue was down .9% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. Huntington National Bank raised its position in Campbell Soup by 39.0% in the second quarter. Huntington National Bank now owns 9,992 shares of the company’s stock worth $521,000 after buying an additional 2,805 shares in the last quarter. APG Asset Management N.V. raised its position in Campbell Soup by 2.3% in the second quarter. APG Asset Management N.V. now owns 2,352,669 shares of the company’s stock worth $122,692,000 after buying an additional 52,600 shares in the last quarter. Patriot Wealth Management Inc. raised its position in Campbell Soup by 3.3% in the second quarter. Patriot Wealth Management Inc. now owns 120,301 shares of the company’s stock worth $6,274,000 after buying an additional 3,816 shares in the last quarter. Bollard Group LLC raised its position in Campbell Soup by 1.5% in the second quarter. Bollard Group LLC now owns 54,990 shares of the company’s stock worth $2,868,000 after buying an additional 798 shares in the last quarter. Finally, First Quadrant L P CA raised its position in Campbell Soup by 205,418.1% in the second quarter. First Quadrant L P CA now owns 431,588 shares of the company’s stock worth $22,507,000 after buying an additional 431,378 shares in the last quarter. 43.92% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, July 11th. Campbell Soup’s payout ratio is 88.05%.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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