On Thursday morning, Campbell Soup Company (NYSE: CPB-Get Rating) updated its projections for the profitability of its fiscal year 2023. The company projected that its quarterly earnings per share would fall between $2.85 and $2.95, which was lower than the average prediction of $2.92 for the quarterly earnings per share. In addition, the company’s estimate for sales ranged from $8.90 billion to $9.08 billion, which is less than the average estimate for sales, which was $8.79 billion.
When trading on Thursday morning, the price of CPB was $47.34 a share. There is a current ratio of 0.68, a quick ratio of 0.30, and a debt-to-equity ratio of 1.20. All of these ratios are in their respective current states. During the past year, the cost of a can of Campbell’s Soup has fluctuated from a low of $39.76 to a high of $51.94 at various points. The stock’s current price is $49.37, while its 50-day simple moving average and its 200-day simple moving average are both $47.32 and $47.31, respectively. Given its present market value of $14.23 billion, its P/E ratio of 18.94, its PEG ratio of 10.11, and its beta value of 0.35, the firm has significant financial resources.
On September 1, a report detailing the performance of Campbell Soup Company (NYSE: CPB-Get Rating) was made available to the public. The actual quarterly earnings for the company came in at the same level as the consensus expectation for those earnings, which was $0.56 per share for the company. Campbell Soup had a return on equity of 25.81%, and the net margin for the company was 8.84%. The company’s revenue for the previous quarter came in at $1.99 billion, much higher than the consensus estimate of $1.98 billion in revenue for the company’s revenue. Compared to the prior year’s results for the same quarter, the company’s earnings per share came in at $0.55.
During the company’s third fiscal quarter, annual sales growth peaked at 6.1% higher than the previous year’s total. As a result, business analysts think Campbell Soup will earn 2.9 cents per share in the current fiscal year. Several equity analysts have each presented their point of view concerning CPB shares. In a report that was made public on August 29, UBS Group disclosed their decision to raise their price objective on Campbell Soup to $45.00. Piper Sandler graded Campbell Soup as neutral in a research report published on Friday, September 2, and decreased their price objective for the stock from $47,000 to $46,000. Before this update, the price objective was set at $47000. In a research report published on Thursday, June 9, Citigroup increased its price objective for Campbell Soup from $46.00 to $50.00.
The firm evaluated the business as neutral and rated it “neutral.” The report’s subject matter was the shares of the corporation. The price objective that Deutsche Bank Aktiengesellschaft has set for Campbell Soup has been lifted from $49.00 to $50.00 due to a research report that was issued on August 22. In a research note that was released on Thursday, June 9, Stifel Nicolaus boosted their price target on Campbell Soup from $46.00 to $48.00 in a research note. This was the third and final alteration, and it was also the most significant. Investment analysts have provided their clients with ten recommendations about the stock of the company, nine of which are to continue holding the stock, one to purchase the stock, and one to sell the stock. MarketBeat says that the stock has an average rating of “Hold” and a price target of $47.59.
According to reports from other sources, Vice President Stanley Polomski sold 10,335 shares of company stock on Monday, June 27. This information was obtained from reports on other news. The selling of the shares resulted in total revenue of $498,147.00, with the average price at which each share could be purchased being $48.20. Because of the transaction, the vice president now possesses 28,176 company shares, which have a value of $1,358,083.20. You will be able to get additional information regarding the transaction if you click on the link that has been provided to you. This link will take you to an official document presented to the Securities and Exchange Commission. The company’s Vice President, Stanley Polomski, sold 10,335 company stocks on Monday, June 27. This is another development that is relevant to this matter.
The shares were sold for a total of $498,147.00. This works to an average price of $48.50 per share when divided by the total number of shares sold. After the deal’s completion, the vice president gained direct ownership of 28,176 business shares, which have a total value of $1,358,083.20. The Securities and Exchange Commission (SEC) kept a legal file accessible online and contained information relevant to the transaction. This information can be viewed by anybody interested. Additionally, on July 13, Campbell Soup Executive Vice President Adam G. Ciongoli sold 32,194 shares of the company’s stock. The acquisition of each share occurred at an average price of $49.75 during the sale, resulting in a total value of the transaction equal to $1,601,651.50.
The conclusion of the transaction has resulted in the executive vice president gaining direct ownership of 129,919 shares of the company’s stock. The total value of these shares is $6,463,470.25. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold 73,563 shares of company stock during the most recent quarter for a total transaction price of $3,612,348. 35. Sixty-two percent of the company’s shares are owned by those working within the corporation.
Recent months have seen several hedge funds adjust the percentage of CPB shares they keep in their portfolios. Raymond James Financial Services Advisors Inc. increased the proportion of its holdings invested in Campbell Soup by 29.8 percent during the first three months of 2018. Raymond James Financial Services Advisors Inc. now holds 29,150 shares of the company’s stock, valued at $1,299,000, after purchasing an additional 6,692 shares during the most recent quarter. These shares were purchased during the most recent quarter. HighTower Advisors LLC boosted its holdings in Campbell Soup by 60.0% over the year’s first three months. To this day, HighTower Advisors LLC has been successful in acquiring ownership of 20,855 shares of the company’s stock.
The current market value of these shares is $932,000. This is a direct outcome of the additional 7,819 shares purchased during the quarter before the current one. The amount of money Cetera Advisor Networks LLC invested in Campbell Soup saw a 31.3% increase during the first three months of 2018 due to investment. The most recent quarter saw Cetera Advisor Networks LLC acquire an additional 2,628 shares of the business’s stock, bringing the total number of shares owned by the company to 11,020, with a value of $491,000 for the portfolio as a whole. MetLife Investment Management LLC purchased extra shares of Campbell Soup Company during the first three months of 2018, which resulted in an increase of 22.7% in the total number of shares held.
Following purchasing 10,144 additional shares during the most recent fiscal quarter, MetLife Investment Management LLC now holds a total of 54,864 shares, estimated at $2,445,000. These shares were added to the firm’s holdings. Last but not least, Rhumbline Advisers saw a 6.8 percent increase in the value of their assets in Campbell Soup Company during the first three months of this year. Rhumbline Advisers increased its holdings in the business’s stock by 20,335 shares during the most recent quarter, bringing the total number of shares it owns to 319,394, which has a value of $14,235,000. Shares of the company are owned by institutional investors and hedge funds to 51.16 percent.
The Campbell Soup Company and its subsidiaries and affiliates make and sell food and drink goods in the United States of America and other nations worldwide. These operations take place in over 100 countries. Snacks, meals, and beverages are considered distinct business segments of the organization in question here. In both the United States and Canada, the meals and beverages business can be found in the retail and restaurant sectors of those respective countries’ economies.
MarketBeat tracks the most well-regarded and successful research analysts working on Wall Street and the firms that these analysts recommend to their clients daily. MarketBeat also follows the companies that these analysts study closely. According to MarketBeat, key analysts at five separate companies are urging their clients to make immediate purchases of their items before the rest of the market catches on. The company, Campbell Soup, was not included in the group.