Campbell Soup Company (CPB) Shares Down 1.5% on Disappointing Earnings

Campbell Soup Company (NYSE:CPB) fell 1.5% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $45.14 and last traded at $46.51. 2,317,507 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 1,977,984 shares. The stock had previously closed at $45.84.

The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.17 billion. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, January 9th. Campbell Soup’s payout ratio is 48.44%.

Several research analysts have recently commented on the company. Barclays PLC reissued a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada reduced their price target on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday. Piper Jaffray Companies reissued a “neutral” rating and issued a $50.00 price target (down from $56.00) on shares of Campbell Soup in a research report on Monday, September 11th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $50.18.

In other Campbell Soup news, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Luca Mignini purchased 4,300 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the purchase, the insider now owns 88,178 shares in the company, valued at approximately $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of CPB. Bessemer Group Inc. grew its stake in Campbell Soup by 80,239.5% during the 3rd quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after purchasing an additional 3,441,474 shares during the last quarter. Renaissance Technologies LLC grew its stake in Campbell Soup by 585.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,494,700 shares of the company’s stock valued at $130,099,000 after purchasing an additional 2,130,700 shares during the last quarter. APG Asset Management N.V. grew its stake in Campbell Soup by 50.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after purchasing an additional 1,192,900 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Campbell Soup by 16.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock valued at $304,011,000 after purchasing an additional 897,314 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Campbell Soup by 116.3% during the 3rd quarter. American Century Companies Inc. now owns 1,357,438 shares of the company’s stock valued at $63,555,000 after purchasing an additional 729,762 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. The stock has a market cap of $15,005.39, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 3.66 and a beta of 0.38.

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About Campbell Soup

Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.

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