Campbell Soup (NYSE:CPB) issued its quarterly earnings results on Friday. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19, Bloomberg Earnings reports. Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Campbell Soup updated its FY18 guidance to $3.10-3.17 EPS.
Campbell Soup (CPB) traded down $1.53 during mid-day trading on Friday, reaching $46.17. The company had a trading volume of 7,060,102 shares, compared to its average volume of 2,680,000. The company has a market cap of $13,880.00, a PE ratio of 15.04, a PEG ratio of 3.63 and a beta of 0.32. Campbell Soup has a fifty-two week low of $43.50 and a fifty-two week high of $60.49. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.39.
In other Campbell Soup news, insider Edward Carolan sold 6,500 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total transaction of $312,975.00. Following the completion of the sale, the insider now directly owns 41,506 shares in the company, valued at approximately $1,998,513.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Carlos Barroso sold 4,300 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the sale, the senior vice president now owns 29,119 shares of the company’s stock, valued at $1,422,754.34. The disclosure for this sale can be found here. Insiders sold a total of 15,284 shares of company stock worth $741,399 over the last ninety days. 37.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Campbell Soup by 65.5% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,100 shares of the company’s stock valued at $438,000 after buying an additional 3,600 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new stake in Campbell Soup during the 4th quarter valued at $259,000. MetLife Investment Advisors LLC purchased a new stake in shares of Campbell Soup in the 4th quarter worth $2,863,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Campbell Soup by 325.7% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 21,330 shares of the company’s stock worth $1,026,000 after purchasing an additional 16,320 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its stake in shares of Campbell Soup by 27.9% in the 4th quarter. Vident Investment Advisory LLC now owns 22,782 shares of the company’s stock worth $1,096,000 after purchasing an additional 4,966 shares in the last quarter. Institutional investors and hedge funds own 47.79% of the company’s stock.
Campbell Soup declared that its board has initiated a stock repurchase plan on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, November 20th. Citigroup reissued a “neutral” rating and issued a $54.00 price target (up from $50.00) on shares of Campbell Soup in a research report on Wednesday, December 20th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $50.00 price target on shares of Campbell Soup in a research report on Friday, December 15th. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Wolfe Research initiated coverage on Campbell Soup in a research report on Friday, January 26th. They issued a “market perform” rating on the stock. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.08.
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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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