Campbell Soup (NYSE:CPB) Updates FY 2022 Earnings Guidance

Campbell Soup (NYSE:CPBGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.75-$2.85 for the period, compared to the consensus estimate of $2.78. The company issued revenue guidance of $8.48 billion-$8.56 billion, compared to the consensus revenue estimate of $8.41 billion.Campbell Soup also updated its FY22 guidance to $2.75-2.85 EPS.

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Campbell Soup from a hold rating to a buy rating in a research note on Saturday, May 14th. UBS Group assumed coverage on shares of Campbell Soup in a research note on Wednesday, March 30th. They set a sell rating and a $42.00 price objective on the stock. Citigroup increased their price objective on shares of Campbell Soup from $45.00 to $46.00 and gave the stock a neutral rating in a research note on Thursday, March 10th. Zacks Investment Research lowered shares of Campbell Soup from a hold rating to a sell rating and set a $49.00 price objective on the stock. in a research note on Friday, June 3rd. Finally, Royal Bank of Canada lowered shares of Campbell Soup from an outperform rating to a sector perform rating and dropped their price target for the company from $47.00 to $46.00 in a research note on Monday, March 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $44.80.

Campbell Soup stock opened at $46.89 on Wednesday. The firm has a 50 day simple moving average of $47.07 and a 200-day simple moving average of $44.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.85 and a quick ratio of 0.46. The stock has a market capitalization of $14.15 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 10.26 and a beta of 0.40. Campbell Soup has a 12-month low of $39.76 and a 12-month high of $51.94.

Campbell Soup (NYSE:CPBGet Rating) last posted its quarterly earnings data on Wednesday, June 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Campbell Soup had a net margin of 11.09% and a return on equity of 25.72%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts forecast that Campbell Soup will post 2.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Thursday, July 7th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, July 6th. Campbell Soup’s payout ratio is 48.85%.

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Campbell Soup by 118.7% during the first quarter. Bank of America Corp DE now owns 413,586 shares of the company’s stock worth $18,433,000 after buying an additional 224,439 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Campbell Soup by 0.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 161,750 shares of the company’s stock worth $7,209,000 after purchasing an additional 573 shares during the period. Toroso Investments LLC acquired a new position in Campbell Soup in the 1st quarter worth approximately $389,000. Gabelli Funds LLC boosted its stake in Campbell Soup by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 188,000 shares of the company’s stock worth $8,379,000 after purchasing an additional 1,000 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in Campbell Soup by 201.0% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 381,297 shares of the company’s stock worth $16,994,000 after purchasing an additional 254,619 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

Campbell Soup Company Profile (Get Rating)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

See Also

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

Want More Great Investing Ideas?

Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.