Brokers Issue Forecasts for Campbell Soup’s FY2024 Earnings (NYSE:CPB)

Campbell Soup (NYSE:CPBFree Report) – Equities researchers at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of Campbell Soup in a research report issued to clients and investors on Monday, June 10th. DA Davidson analyst B. Holland now forecasts that the company will post earnings of $3.08 per share for the year, down from their previous forecast of $3.09. DA Davidson has a “Buy” rating and a $49.00 price objective on the stock. The consensus estimate for Campbell Soup’s current full-year earnings is $3.08 per share. DA Davidson also issued estimates for Campbell Soup’s Q4 2024 earnings at $0.62 EPS and FY2025 earnings at $3.29 EPS.

Several other brokerages have also recently weighed in on CPB. Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $42.00 to $46.00 in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised their price objective on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Citigroup boosted their price objective on Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research note on Thursday, May 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $47.00 target price on shares of Campbell Soup in a research note on Friday. Finally, Evercore ISI started coverage on Campbell Soup in a report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.31.

View Our Latest Report on Campbell Soup

Campbell Soup Trading Down 0.9 %

CPB opened at $42.46 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.62 and a quick ratio of 0.24. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $46.97. The company’s 50 day moving average price is $44.62 and its two-hundred day moving average price is $43.62. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 2.65 and a beta of 0.19.

Campbell Soup (NYSE:CPBGet Free Report) last issued its earnings results on Wednesday, June 5th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 59.92%.

Institutional Trading of Campbell Soup

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Campbell Soup by 16.6% during the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after acquiring an additional 1,219,301 shares during the last quarter. Invesco Ltd. raised its stake in shares of Campbell Soup by 6.8% during the 3rd quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after purchasing an additional 318,983 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Campbell Soup by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock worth $147,375,000 after buying an additional 580,411 shares during the last quarter. Norges Bank purchased a new position in shares of Campbell Soup in the 4th quarter worth about $125,689,000. Finally, Northern Trust Corp increased its holdings in Campbell Soup by 4.7% during the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after buying an additional 127,574 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Company Profile

(Get Free Report)

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.

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

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