However, it would observe 23.08% sequential reduction in its EPS if it meets the 50 cents projection.
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Campbell Soup shares slid ahead of the open after the producer of canned soup’s fourth-quarter results disappointed. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,568 shares of the company’s stock valued at $2,652,000 after buying an additional 3,980 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Campbell Soup by 5.6% in the first quarter. Nonetheless, if consensus prediction is fulfilled, 16.28% year-over-year increase would be apparent in its EPS this season, as it posted only 43 cents in 4QFY15. However, I am not pleased with the results of our fourth quarter. The formula to calculate ratio is stock’s latest price/ per share earnings. Equity Analysts at the Firm lowers the price target to $61 per share from $63 per share.
Campbell Soup Company (NYSE:CPB) stock is now trading at about $60.73 and lots of rating firms seem to have a target price set on the stock. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock had a trading volume of 18.7 M shares.
“Shares tumbled as much as 5.7% after the company posted [the] disappointing forecast”, Giammona writes – “as low as $57.24 in NY for the biggest intraday decline since May 20”. 3,420,935 shares of the company traded hands. The insider owns 259,572 shares which have current market value of around $15763808.GLENDINNING STEWART is another major inside shareholder in the company. Prior to today’s report, CPB had risen almost 16% year-to-date. The impact score of Campbell Soup Company (NYSE:CPB) is now at 79 for the day.
Sales for the year fell slightly to $7,961 million from $8,082 million the year prior. Full year 2017 adjusted EPS is expected to be between $3.00 and $3.09. The firm’s revenue for the quarter was down.4% on a year-over-year basis. The dividend will be payable on October 31 to shareholders of record as of October 12. The ex-dividend date is Friday, October 7th.
The dividend yield for the company is hovering around 2.05% while the pay out ratio is now at 54.20%. The net loss attributable to Campbell Soup was $81 million in the quarter.
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Campbell Soup Company is a food company, which manufactures and markets food products. He commented: “For the year, Americas Simple Meals and Beverages and Global Biscuits and Snacks delivered significant margin expansion, driving double-digit profit growth”. A decline in ready-to-serve soups was partially offset by sales of Swanson broth and gains in Prego offset declines in V8 juices and soups.
