According to Zacks, “After a ten quarter long trend of either meeting or beating estimates, Campbell Soup succumbed to an earnings miss in fourth-quarter fiscal 2016. Moreover, the company’s margins and organic sales were hurt by soft Campbell Fresh performance that stemmed from low carrot sales and the voluntary recall of some Bolthouse Farms products. This, along with currency woes and higher promotional costs, dented Campbell’s results. On the flip side, the company remains pleased with the solid profits earned in fiscal 2016, fuelled by strong performance of its Americas Simple Meals and Global Biscuits segments, and cost saving efforts. Further, the company remains on track to improve Campbell Fresh’s long-term performance, and augment overall sales in fiscal 2017. This confidence in future prospects also encouraged management to declare a dividend hike, which along with its other shareholder-friendly moves, should boost investors’ sentiment”
Several other research analysts also recently issued reports on CPB. Royal Bank Of Canada reiterated a sector perform rating and issued a $62.00 target price on shares of Campbell Soup in a research note on Monday, May 23rd. Goldman Sachs Group Inc. restated a neutral rating and set a $68.00 price objective (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Credit Suisse Group AG restated a sell rating and set a $60.00 price objective on shares of Campbell Soup in a research report on Thursday, July 28th. Deutsche Bank AG lowered their price objective on shares of Campbell Soup from $63.00 to $61.00 and set a hold rating on the stock in a research report on Friday, August 26th. Finally, Citigroup Inc. lowered their price objective on shares of Campbell Soup from $67.00 to $63.00 and set a neutral rating on the stock in a research report on Friday, September 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $59.83.
Campbell Soup (NYSE:CPB) opened at 55.39 on Monday. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 30.60 and a beta of 0.31. Campbell Soup has a 52-week low of $47.77 and a 52-week high of $67.89. The stock’s 50 day moving average is $58.81 and its 200-day moving average is $62.17.
Campbell Soup (NYSE:CPB) last issued its earnings results on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. The firm earned $1.69 billion during the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Equities research analysts anticipate that Campbell Soup will post $3.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Wednesday, October 12th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.53%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, October 7th. Campbell Soup’s dividend payout ratio (DPR) is presently 69.44%.
In related news, insider Jeff Dunn sold 8,459 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the transaction, the insider now directly owns 112,775 shares of the company’s stock, valued at $6,342,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William J. O’shea sold 13,000 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total transaction of $750,620.00. Following the transaction, the vice president now directly owns 28,952 shares of the company’s stock, valued at $1,671,688.48. The disclosure for this sale can be found here. Corporate insiders own 37.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CPB. Vicus Capital boosted its position in Campbell Soup by 0.3% in the second quarter. Vicus Capital now owns 3,695 shares of the company’s stock valued at $246,000 after buying an additional 12 shares during the last quarter. First Midwest Bank Trust Division boosted its position in Campbell Soup by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 3,381 shares of the company’s stock valued at $225,000 after buying an additional 16 shares during the last quarter. Frontier Wealth Management LLC boosted its position in Campbell Soup by 0.8% in the second quarter. Frontier Wealth Management LLC now owns 4,486 shares of the company’s stock valued at $298,000 after buying an additional 36 shares during the last quarter. Advisor Partners LLC boosted its position in Campbell Soup by 0.6% in the second quarter. Advisor Partners LLC now owns 6,884 shares of the company’s stock valued at $458,000 after buying an additional 44 shares during the last quarter. Finally, Mercer Capital Advisers Inc. boosted its position in Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock valued at $197,000 after buying an additional 53 shares during the last quarter. 43.99% of the stock is owned by institutional investors.
Campbell Soup Company Profile
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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