Campbell Soup Company Sets New 52-Week High Following Better-Than-Expected

The new outlook means earnings of $2.75 to $2.83 per share. If the $84.18 price target is reached, the company will be worth $9.87B more. Sales are estimated to plunge 1% for the fiscal year 2016.

That business reported a 2 percent drop in sales to $1.30 billion in the first quarter ended November 1 from a year earlier. During last six month period, the net percent change held by insiders has seen a change of -5.77%.

Campbell shares rose $1.54, or 3 per cent, to close at $51.33. Campbell Soup Company has a 52 week low of $42.70 and a 52 week high of $52.37.

Campbell Soup Company most recently announcied its earnings on 2015-09-03. For example, if a company forecasts future profitability, the estimated P/E will be lower than the current P/E. P/E is calculated by dividing the market price per share by the expected earnings per share, and also referred to as price-to-earnings. This represents a -0.956% difference between analyst expectations and the Campbell Soup Company achieved in its quarterly earnings. Analysts were projecting earnings of $0.76 per share on revenue of $2.21 billion. The business’s revenue was down 2.3% on a year-over-year basis. Consensus estimates called for EPS of $2.59 on revenues of $8.11 billion compared with prior year results of $2.46 EPS and $8.08 billion in sales. Finally, Morgan Stanley reaffirmed a “sell” rating and issued a $47.00 target price (up previously from $45.00) on shares of Campbell Soup Company in a research note on Friday, September 4th. RBC Capital restated a “sector perform” rating and set a $50.00 price objective on shares of Campbell Soup Company in a research report on Friday, September 4th. The rating is an average of the various different ratings given by analysts and brokers to Campbell Soup Company, and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois. The shares were sold at an average price of $49.39, for a total value of $510,495.04. Following the completion of the transaction, the senior vice president now owns 44,967 shares in the company, valued at approximately $2,217,772.44. The disclosure for this sale can be found here.

Campbell Soup Company (Campbell) together with its subsidiaries, is a manufacturer and marketer of branded convenience food products. On the other hand, other simple meals gained mainly from increased sales of Prego pasta sauces, Campbell’s dinner sauces and the new Prego and Pace ready meals. The entity has organized itself into three operating segments from five segments in the past. However, excluding the impact from this summer’s acquisition of Garden Fresh Gourmet, sales decreased 3% reflecting declines in carrot ingredients, fresh carrots and refrigerated soup.