Campbell Soup’s cost-cutting plan is paying off faster than it expected. The stock was sold at an average price of $47.80, for a total value of $133,553.20. The stock had a trading volume of 226,874 shares. They now have a $50 TP on the stock. The company has a market cap of $15.07 billion and a P/E ratio of 20.08.
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Indeed, Campbell is hardly the only company that is scrambling to adapt to this new reality: Its rivals H.J. The previous guidance for EPS was in the range of -5% to -3%, or $2.32 to $2.38 per share. The company had revenue of $1.90 million for the quarter. The firm said it now expects earnings before income taxes would fall 1 to 2 percent for the year ending August 2, compared to a previous estimated decline of 5 to 7 percent.
Finally, the company will introduce products made with organic ingredients, from Goldfish crackers made with organic wheat to organic baby food released under the Plum name.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd.
Brian Sozzi commented on Campbell Soup in a recent post on RealMoney.com.
According to data compiled by Thomson Reuters, Campbell Soup (NYSE:CPB)’s stock is covered by 11 equity analysts across the Street, with 6 analysts giving it a Sell rating, 1 a Buy rating, while 9 consider it a Hold.
Campbell Soup Company (NYSE:CPB) has received a short term rating of strong buy from research analysts at Zacks with a rank of 1.
Campbell Soup Co.is revamping its marketing and ingredients strategies to meet consumer demands for healthier foods and more transparency from food companies as well as to combat slowing sales of its processed foods portfolio.
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Credit Suisse raised its price target for Campbell Soup (CPB – Get Report) to $46 from $42 on Thursday, reiterating its “underperform” rating for the packaged food company. The Company operates in five segments: U.S. Simple Meals; Global Baking and Snacking; worldwide Simple Meals and Beverages; U.S. Beverages; and North America Foodservice. In the Asia-Pacific region, the Company’s products are generally resold to consumers through retail food chains, convenience stores and other retail, commercial and non-commercial establishments. As well as descriptions of the key ingredients that go in to the iconic brands, Campbell has included information on ingredients that may be derived from genetically modified crops (for example, the corn syrup and citric acid in Condensed Tomato soup) or recipes that contain MSG.
