Campbell Soup (NYSE:CPB) Releases FY 2022 Earnings Guidance

Campbell Soup (NYSE:CPB) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.750-$2.850 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.870. The company issued revenue guidance of $8.31 billion-$8.48 billion, compared to the consensus revenue estimate of $8.35 billion.

CPB traded up $0.63 during trading on Wednesday, hitting $43.99. 32,692 shares of the stock were exchanged, compared to its average volume of 2,567,846. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.51 and a current ratio of 0.93. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 13.18 and a beta of 0.58. The firm has a 50 day simple moving average of $43.50 and a 200 day simple moving average of $46.52. Campbell Soup has a 1 year low of $40.05 and a 1 year high of $53.77.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Tuesday, August 31st. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.81 billion. Campbell Soup had a net margin of 11.82% and a return on equity of 30.73%. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that Campbell Soup will post 2.77 earnings per share for the current fiscal year.

Campbell Soup declared that its Board of Directors has authorized a stock buyback program on Wednesday, September 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Campbell Soup in a research note on Wednesday, September 1st. They set a hold rating and a $45.00 target price for the company. Credit Suisse Group reduced their price target on Campbell Soup from $46.00 to $41.00 and set a neutral rating on the stock in a research report on Friday, August 27th. Piper Sandler cut shares of Campbell Soup from an overweight rating to a neutral rating and decreased their price target for the stock from $51.00 to $43.00 in a research note on Tuesday, August 24th. Bank of America lowered their price target on shares of Campbell Soup from $45.00 to $42.00 and set an underperform rating on the stock in a research note on Thursday, September 2nd. Finally, Morgan Stanley cut their price objective on Campbell Soup from $48.00 to $46.00 and set an equal weight rating for the company in a research report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Campbell Soup presently has a consensus rating of Hold and an average price target of $46.80.

An institutional investor recently raised its position in Campbell Soup stock. Morgan Stanley grew its holdings in Campbell Soup (NYSE:CPB) by 22.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,005,642 shares of the company’s stock after acquiring an additional 373,208 shares during the period. Morgan Stanley owned 0.66% of Campbell Soup worth $91,437,000 as of its most recent SEC filing. 52.09% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Company Profile

Campbell Soup Co engages in manufacture and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: Meals and Beverages, and Snacks. The Meals and Beverages segment includes the retail and food service businesses in the U.S., Canada and Latin America.

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

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