Campbell Soup Company (CPB) Expected to Post Quarterly Sales of $2.19 Billion

Brokerages predict that Campbell Soup Company (NYSE:CPB) will post $2.19 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Campbell Soup’s earnings. The lowest sales estimate is $2.17 billion and the highest is $2.21 billion. Campbell Soup posted sales of $2.17 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The company is expected to issue its next quarterly earnings report on Friday, February 16th.

On average, analysts expect that Campbell Soup will report full-year sales of $2.19 billion for the current financial year, with estimates ranging from $7.83 billion to $7.96 billion. For the next financial year, analysts expect that the business will report sales of $8.04 billion per share, with estimates ranging from $7.88 billion to $8.16 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 announced its earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year.

CPB has been the subject of several analyst reports. Royal Bank of Canada set a $56.00 price objective on Campbell Soup and gave the company a “hold” rating in a report on Wednesday, October 25th. UBS Group decreased their price objective on Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, November 9th. Credit Suisse Group set a $41.00 price objective on Campbell Soup and gave the company a “sell” rating in a report on Friday, November 24th. Piper Jaffray Companies set a $49.00 price target on Campbell Soup and gave the stock a “hold” rating in a report on Tuesday, November 28th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $54.00 price target (up previously from $50.00) on shares of Campbell Soup in a report on Wednesday, December 20th. Seven research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $49.83.

In related news, Director Randall W. Larrimore sold 2,242 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total value of $109,162.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Carolan sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the transaction, the insider now owns 41,506 shares of the company’s stock, valued at $1,998,513.90. The disclosure for this sale can be found here. Insiders sold 15,284 shares of company stock valued at $741,399 over the last 90 days. Company insiders own 37.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of CPB. Victory Capital Management Inc. grew its position in Campbell Soup by 6.1% in the second quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after acquiring an additional 213 shares during the period. Pacer Advisors Inc. lifted its stake in Campbell Soup by 8.2% during the second quarter. Pacer Advisors Inc. now owns 4,573 shares of the company’s stock worth $238,000 after purchasing an additional 348 shares in the last quarter. Chicago Equity Partners LLC lifted its stake in Campbell Soup by 1.4% during the second quarter. Chicago Equity Partners LLC now owns 13,365 shares of the company’s stock worth $697,000 after purchasing an additional 185 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Campbell Soup during the second quarter worth $1,016,000. Finally, Commonwealth Bank of Australia lifted its stake in Campbell Soup by 31.8% during the second quarter. Commonwealth Bank of Australia now owns 31,916 shares of the company’s stock worth $1,663,000 after purchasing an additional 7,706 shares in the last quarter. Institutional investors own 46.04% of the company’s stock.

Shares of Campbell Soup (NYSE CPB) opened at $47.30 on Wednesday. Campbell Soup has a 52-week low of $44.99 and a 52-week high of $64.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.39 and a current ratio of 0.77. The company has a market capitalization of $14,220.00, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.72 and a beta of 0.39.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a $0.35 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.96%. Campbell Soup’s dividend payout ratio (DPR) is presently 48.95%.

Campbell Soup announced that its board has initiated a share repurchase plan on Monday, December 18th that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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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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Earnings History and Estimates for Campbell Soup (NYSE:CPB)

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