Q2 2024 EPS Estimates for Campbell Soup (NYSE:CPB) Lowered by Zacks Research

Campbell Soup (NYSE:CPB) – Research analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Campbell Soup in a research report issued to clients and investors on Thursday, September 14th. Zacks Research analyst V. Bagree now anticipates that the company will post earnings per share of $0.80 for the quarter, down from their prior estimate of $0.81. The consensus estimate for Campbell Soup’s current full-year earnings is $3.07 per share. Zacks Research also issued estimates for Campbell Soup’s Q3 2024 earnings at $0.76 EPS, FY2024 earnings at $3.09 EPS, Q1 2025 earnings at $0.88 EPS, FY2025 earnings at $3.16 EPS and FY2026 earnings at $3.46 EPS.

Other equities research analysts have also issued reports about the company. TD Cowen started coverage on Campbell Soup in a research report on Wednesday. They set a “market perform” rating and a $45.00 price objective for the company. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $48.00 to $45.00 and set a “hold” rating for the company in a report on Friday, September 1st. 888 reiterated a “maintains” rating on shares of Campbell Soup in a research note on Monday, June 26th. Evercore ISI decreased their target price on shares of Campbell Soup from $55.00 to $53.00 in a research note on Thursday, June 8th. Finally, Barclays lowered their price target on shares of Campbell Soup from $49.00 to $45.00 and set an “underweight” rating on the stock in a report on Sunday, September 3rd. Four research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.21.

Campbell Soup Stock Performance

Shares of CPB stock opened at $43.50 on Friday. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 3.36 and a beta of 0.34. Campbell Soup has a 1-year low of $40.76 and a 1-year high of $57.78. The company has a current ratio of 0.93, a quick ratio of 0.36 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $43.89 and its 200-day simple moving average is $49.08.

Campbell Soup (NYSE:CPB) last released its earnings results on Thursday, August 31st. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Campbell Soup had a net margin of 9.17% and a return on equity of 25.14%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year.

Institutional Investors Weigh In On Campbell Soup

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC increased its position in Campbell Soup by 0.6% in the 1st quarter. Cerity Partners LLC now owns 167,892 shares of the company’s stock worth $11,101,000 after buying an additional 931 shares during the period. Metis Global Partners LLC raised its stake in Campbell Soup by 144.8% during the 1st quarter. Metis Global Partners LLC now owns 10,346 shares of the company’s stock valued at $569,000 after purchasing an additional 6,120 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Campbell Soup by 19.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 881,689 shares of the company’s stock valued at $48,475,000 after purchasing an additional 145,124 shares during the period. USS Investment Management Ltd grew its position in Campbell Soup by 1.8% in the 4th quarter. USS Investment Management Ltd now owns 113,067 shares of the company’s stock worth $6,418,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Campbell Soup by 22.3% during the 4th quarter. Amalgamated Bank now owns 62,868 shares of the company’s stock worth $3,568,000 after purchasing an additional 11,459 shares during the period. 50.73% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Company Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in 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.