Campbell Soup Company (NYSE:CPB) today has announced that they have raised their earnings guidance for the year. While this news is certainly positive, the company also reduced its sales outlook. Profit for the quarter fell approximately 22%, leaving some shareholders a bit indecisive about whether or not to buy or sell the stock.
In addition, adjusted earnings per share are expected to increase to between $2.75 – $2.83, which compares favorably to the previous guidance of $2.53 – $2.58 per share.
The stock is up 2.89% or $1.44 after the news, hitting $51.23 per share. About 875,410 shares traded hands. CPB has risen 7.98% since April 22, 2015 and is uptrending. It has outperformed by 8.99% the S&P500.
Out of 3 analysts covering Campbell Soup (NYSE:CPB), 0 rate it “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. $50 is the highest target while $46 is the lowest. The $48.75 average target is -4.84% below today’s ($51.23) stock price. Campbell Soup was the topic in 5 analyst reports since July 23, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock on September 4 with “Sector Perform” rating.
The institutional sentiment increased to 0.89 in Q2 2015. Its up 0.11, from 0.78 in 2015Q1. The ratio is positive, as 32 funds sold all Campbell Soup Company shares owned while 179 reduced positions. 56 funds bought stakes while 132 increased positions. They now own 129.40 million shares or 0.67% more from 128.54 million shares in 2015Q1.
Brandywine Trust Co holds 47.89% of its portfolio in Campbell Soup Company for 1.46 million shares. Brandywine Managers Llc owns 213,725 shares or 7.14% of their US portfolio. Moreover, Managed Asset Portfolios Llc has 4.07% invested in the company for 162,981 shares. The Georgia-based Herndon Capital Management Llc has invested 3.01% in the stock. Cognios Capital Llc, a Kansas-based fund reported 103,541 shares.
Since May 26, 2015, the stock had 0 insider purchases, and 4 selling transactions for $678,351 net activity. Barroso Carlos sold 1,650 shares worth $81,378. O’shea William J sold 6,000 shares worth $286,800. Charron Paul R sold 3,332 shares worth $155,138. Morrissey Robert W sold 2,794 shares worth $133,553.
Campbell Soup Company manufactures and markets food products. The company has a market cap of $15.55 billion. The Company’s divisions include U.S. It has 23.26 P/E ratio. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S.