Campbell misses earnings expectations in Q3, as sales fall

Campbell Soup said net income fell to $176 million in its third quarter from $185 million. Campbell Soup Company (CPB) has declined $0.25, or -0.44%, in the last 30 days. Buy rating has been given by 12 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 6 analysts given HOLD rating. On Thursday, September 3 the stock rating was upgraded by Noble Financial to "Buy". Looking ahead to earnings forecasts, for the running fiscal period, Wall Street analysts have anticipated that the company will report 0.64 earnings per share. Taking a look back at some historical performance numbers for Campbell Soup Company (CPB), we can see that the stock moved -0.16% for the last five trades. Art Advisors Limited Liability Company has 0.12% invested in Campbell Soup Company (NYSE:CPB) for 32,300 shares.

Campbell Soup Company (NYSE:CPB) traded up 0.40% during trading on Monday, reaching $57.45. 1,678,616 shares of the company's stock were exchanged. Campbell Soup Company has a 1-year low of $52.58 and a 1-year high of $67.89. The stock is now trading -2.80% below its SMA 50 and -5.66% below its SMA 200. Jarislowsky Fraser Ltd acquired 9,835 shares as Comcast Corporation (CMCSA)'s stock 0.00%. She said the company would raise its earnings outlook, however, to 2 to 4 percent for adjusted earnings and 3 to 5 percent for adjusted EPS. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.87 billion. RBC Capital Markets maintained Campbell Soup Company (NYSE:CPB) rating on Thursday, July 23.

Campbell lowered its guidance, predicting sales for the year will be between flat and down 1%, compared to a prior forecast of between 0% and a gain of 1%. Meag Munich Ergo Kapitalanlagegesellschaft Mbh stated it has 12,000 shares or 0.03% of all its holdings. This is built on a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.

On 11/17/2016 announced a quarterly dividend of $0.35 2.58% with an ex dividend date of 1/9/2017 which will be payable on 1/11/2017. Campbell Soup Company's dividend payout ratio (DPR) is presently 66.04%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by BBNS and is the property of of BBNS. Van ECK Associates Corp boosted its position in Campbell Soup Company by 22.9% in the fourth quarter.

Several research analysts have recently issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $63.00 target price (up previously from $60.00) on shares of Campbell Soup Company in a research report on Wednesday, February 15th.

Campbell Soup Co. stock fell almost 2 percent to $55.81 in mid-morning trading. Stifel Nicolaus maintained Campbell Soup Company (NYSE:CPB) on Monday, January 23 with "Hold" rating. They issued a "hold" rating and a $65.00 price objective on the stock. Zacks Investment Research cut Campbell Soup Company from a "buy" rating to a "hold" rating in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock now has a consensus rating of "Hold" and a consensus price target of $60.17. DORRANCE BENNETT bought $52.51M worth of stock.

On 12/21/2016 Carlos Barroso, SVP, sold 1,000 with an average share price of $60.31 per share and the total transaction amounting to $60,310.00. Corporate insiders own 37.30% of the company's stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Campbell Soup Co Com now has $17.55B valuation. Further, weak organic sales across the Americas Simple Meals and Beverages and Campbell Fresh segments could only be partly compensated by improved results at the company's Global Biscuits and Snacks segment. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.

  • Zachary Reyes