Campbell Soup (CPB) Scheduled to Post Quarterly Earnings on Wednesday

Campbell Soup (NYSE:CPB – Get Rating) is set to announce its earnings results before the market opens on Wednesday, March 8th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Campbell Soup has set its FY 2023 guidance at $2.90-$3.00 EPS and its FY23 guidance at $2.90-3.00 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Campbell Soup (NYSE:CPB – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.16. Campbell Soup had a net margin of 8.91% and a return on equity of 26.43%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the company posted $0.89 EPS. Campbell Soup’s revenue was up 15.2% compared to the same quarter last year. On average, analysts expect Campbell Soup to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Campbell Soup Trading Down 1.1 %

Shares of CPB stock opened at $52.52 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.76 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $53.65 and a two-hundred day moving average price of $51.79. Campbell Soup has a 12-month low of $41.72 and a 12-month high of $57.78. The firm has a market cap of $15.73 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 5.24 and a beta of 0.36.

Insider Buying and Selling at Campbell Soup

In other news, EVP Adam G. Ciongoli sold 44,232 shares of Campbell Soup stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $56.46, for a total transaction of $2,497,338.72. Following the transaction, the executive vice president now owns 136,739 shares in the company, valued at approximately $7,720,283.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Adam G. Ciongoli sold 44,232 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $56.46, for a total transaction of $2,497,338.72. Following the completion of the sale, the executive vice president now directly owns 136,739 shares of the company’s stock, valued at approximately $7,720,283.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adam G. Ciongoli sold 37,354 shares of Campbell Soup stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total value of $2,123,948.44. Following the completion of the transaction, the executive vice president now directly owns 99,385 shares of the company’s stock, valued at $5,651,031.10. The disclosure for this sale can be found here. Insiders own 21.05% of the company’s stock.

Institutional Investors Weigh In On Campbell Soup

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its position in Campbell Soup by 29.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock worth $1,299,000 after acquiring an additional 6,692 shares in the last quarter. HighTower Advisors LLC boosted its stake in Campbell Soup by 60.0% in the 1st quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock worth $932,000 after buying an additional 7,819 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in Campbell Soup by 31.3% in the first quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after buying an additional 2,628 shares during the period. MetLife Investment Management LLC increased its position in shares of Campbell Soup by 22.7% in the first quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock worth $2,445,000 after acquiring an additional 10,144 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Campbell Soup by 6.8% in the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock worth $14,235,000 after acquiring an additional 20,335 shares in the last quarter. Hedge funds and other institutional investors own 50.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on Campbell Soup from $46.00 to $50.00 in a research report on Thursday, December 8th. Piper Sandler boosted their target price on Campbell Soup from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, December 8th. StockNews.com lowered Campbell Soup from a “buy” rating to a “hold” rating in a research report on Wednesday, February 22nd. Exane BNP Paribas initiated coverage on shares of Campbell Soup in a research report on Tuesday, November 15th. They set an “underperform” rating for the company. Finally, Credit Suisse Group upped their price target on shares of Campbell Soup from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, December 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.09.

About Campbell Soup

(Get Rating)

Campbell Soup Co engages in the business of manufacturing and marketing food and beverage products. It operates under the Meals and Beverages, and Snacks segments. The Meals and Beverages segment includes soup, meals, and beverage products in retail and foodservice. The Snacks segment offers cookies, crackers, bakery, and frozen products.