Campbell Soup (NYSE:CPB) Updates FY22 Earnings Guidance

Campbell Soup (NYSE:CPBGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.75-2.85 for the period, compared to the consensus earnings per share estimate of $2.78. The company issued revenue guidance of +0-1% yr/yr to $8.48-8.56, compared to the consensus revenue estimate of $8.42 billion.Campbell Soup also updated its FY 2022 guidance to $2.75-$2.85 EPS.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Campbell Soup from a hold rating to a sell rating and set a $49.00 price target for the company. in a research report on Friday, June 3rd. UBS Group assumed coverage on shares of Campbell Soup in a research report on Wednesday, March 30th. They set a sell rating and a $42.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Campbell Soup from $46.00 to $47.00 in a research report on Wednesday, June 1st. Citigroup increased their price objective on shares of Campbell Soup from $45.00 to $46.00 and gave the company a neutral rating in a research report on Thursday, March 10th. Finally, Royal Bank of Canada lowered shares of Campbell Soup from an outperform rating to a sector perform rating and decreased their price objective for the company from $47.00 to $46.00 in a research report on Monday, March 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Campbell Soup presently has an average rating of Hold and a consensus target price of $44.80.

Shares of NYSE:CPB opened at $46.89 on Wednesday. Campbell Soup has a twelve month low of $39.76 and a twelve month high of $51.94. The company’s 50 day moving average is $47.07 and its 200 day moving average is $44.78. The company has a current ratio of 0.85, a quick ratio of 0.46 and a debt-to-equity ratio of 1.36. The company has a market cap 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 (NYSE:CPBGet Rating) last issued its quarterly earnings results on Wednesday, June 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.04 billion. Campbell Soup had a net margin of 11.09% and a return on equity of 25.72%. Campbell Soup’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Equities research analysts predict that Campbell Soup will post 2.78 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Campbell Soup by 6.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,743 shares of the company’s stock worth $163,000 after purchasing an additional 239 shares during the period. Parkside Financial Bank & Trust grew its stake in Campbell Soup by 149.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after acquiring an additional 358 shares during the period. Baird Financial Group Inc. grew its stake in Campbell Soup by 1.3% in the 1st quarter. Baird Financial Group Inc. now owns 32,334 shares of the company’s stock valued at $1,441,000 after acquiring an additional 425 shares during the period. Glenmede Trust Co. NA grew its stake in Campbell Soup by 1.2% in the 4th quarter. Glenmede Trust Co. NA now owns 39,317 shares of the company’s stock valued at $1,708,000 after acquiring an additional 451 shares during the period. Finally, The Manufacturers Life Insurance Company grew 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 valued at $7,209,000 after acquiring an additional 573 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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