Campbell Soup (CPB) announced its quarterly earnings results on Tuesday, Nov-24-2015.
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Shares traded up about 3.4% in pre-market trading at $51.50 in a 52-week range of $42.70 to $52.37.
Campbell Soup Company (NYSE:CPB) opened at 49.79 on Thursday.
Campbell said sales decreased 2 percent in the quarter from the previous year, to $2.2 billion, and reported earnings slipped 19 percent, to $315 million. During the first quarter, sales plummeted 2% to $2.20 billion from negative translation effects. During the same period in the prior year, the business earned $0.74 EPS.
Sales fell 2.3% from a year earlier to $2.2 billion. Stockholders of record on Monday, January 11th will be paid a $0.312 dividend. Analyst had a consensus of $0.76 EPS. Institutional Investors own 41.91% of Campbell Soup Company shares.
RBC Capital reiterated their sector perform rating on shares of Campbell Soup Company (NYSE:CPB) in a report published on Thursday morning, MarketBeat.com reports.
During Q3, Campbell reported organic sales held steady. S&P Equity Research boosted their price target on shares of Campbell Soup Company from $44.00 to $46.00 and gave the company a “sell” rating in a research note on Friday, September 4th.
In related news, Director Sara Mathew sold 10,336 shares of Campbell Soup Company stock in a transaction on Monday, September 14th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $48.70. O’shea sold 6,000 shares of Campbell Soup Company stock in a transaction dated Friday, September 4th. The Insider selling transaction had a total value worth of $510,495. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The stock was sold at an average price of $49.32, for a total transaction of $81,378.00. That compares with $248 million, or 78 cents per share, a year ago. The disclosure for this sale can be found here.
Campbell Soup Company (NYSE:CPB): The stock price is expected to reach $ 48.57 in the short term. The Company’s divisions include U.S. It has 22.61 P/E ratio. Sales of other US simple meals increased, driven by gains in Prego pasta sauces, Campbell’s dinner sauces and the new Prego and Pace ready meals.
As a result, the company, whose products also include Pepperidge Farm cookies and Goldfish crackers, said in July that it was targeting cost savings of $250 million annually by the end of fiscal 2018.
The simple meals and beverages segment saw its sales decrease 2%.
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Among the big US food companies, Campbell has been one of the most aggressive in responding to rapid changes in how Americans eat, but its embrace of simpler, more natural products has so far had limited payoff.
