Analysts Expect Campbell Soup Company (CPB) Will Announce Quarterly Sales of $1.69 Billion
Brokerages forecast that Campbell Soup Company (NYSE:CPB) will post $1.69 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Campbell Soup’s earnings, with the highest sales estimate coming in at $1.71 billion and the lowest estimate coming in at $1.68 billion. Campbell Soup also reported sales of $1.69 billion in the same quarter last year. The company is scheduled to report its next earnings results before the market opens on Thursday, August 31st.
According to Zacks, analysts expect that Campbell Soup will report full-year sales of $1.69 billion for the current financial year, with estimates ranging from $7.90 billion to $7.93 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.02 billion per share, with estimates ranging from $7.88 billion to $8.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Campbell Soup.
Campbell Soup (NYSE:CPB) last posted its earnings results on Friday, May 19th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.87 billion. Campbell Soup had a net margin of 6.17% and a return on equity of 59.83%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share.
CPB has been the topic of several research reports. Wells Fargo & Company reissued a “market perform” rating and set a $58.00 price objective (down from $62.50) on shares of Campbell Soup in a research report on Tuesday, May 23rd. Credit Suisse Group reissued a “sell” rating on shares of Campbell Soup in a research report on Wednesday, May 24th. Piper Jaffray Companies started coverage on shares of Campbell Soup in a research report on Wednesday, May 24th. They set a “neutral” rating and a $59.00 price objective on the stock. BidaskClub cut shares of Campbell Soup from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $55.00 target price (down previously from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Six equities research analysts have rated the stock with a sell rating, ten have issued 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 price target of $57.46.
Several hedge funds have recently made changes to their positions in CPB. KCG Holdings Inc. boosted its stake in shares of Campbell Soup by 167.8% in the first quarter. KCG Holdings Inc. now owns 16,291 shares of the company’s stock valued at $932,000 after buying an additional 10,208 shares during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Campbell Soup by 21.5% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 52,038 shares of the company’s stock valued at $2,979,000 after buying an additional 9,199 shares during the period. Vicus Capital boosted its stake in shares of Campbell Soup by 6.1% in the first quarter. Vicus Capital now owns 3,686 shares of the company’s stock valued at $211,000 after buying an additional 213 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Campbell Soup during the fourth quarter valued at approximately $850,000. Finally, Investment Centers of America Inc. boosted its stake in shares of Campbell Soup by 20.7% in the first quarter. Investment Centers of America Inc. now owns 5,155 shares of the company’s stock valued at $295,000 after buying an additional 883 shares during the period. Hedge funds and other institutional investors own 43.92% of the company’s stock.
Campbell Soup (CPB) opened at 52.00 on Friday. Campbell Soup has a 52-week low of $50.62 and a 52-week high of $64.23. The company’s 50-day moving average is $54.01 and its 200-day moving average is $57.89. The firm has a market capitalization of $15.76 billion, a P/E ratio of 32.83 and a beta of 0.34.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, July 11th. Campbell Soup’s dividend payout ratio (DPR) is 88.05%.
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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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