Campbell Soup’s Q1 Profit Falls, Missing View (CPB)

By Staff,

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Packaged foods maker Campbell Soup Company ( CPB ) on Tuesday said its fiscal first quarter profit fell 8% from last year on lower sales, missing analyst estimates.

The Camden, NJ-based company reported fiscal first-quarter net income of $279 million, or 82 cents per share, compared with $304 million, or 87 cents per share, in the year-ago period.

Sales edged slightly lower from last year to $2.17 billion.

On average, Wall Street analysts expected a higher profit of 84 cents per share, on larger revenue of $2.21 billion.

Looking ahead, the company reiterated its full-year 2011 forecast for 1% to 3% sales growth and a 2% to 4% rise in profits over fiscal 2010.

Campbell Soup shares were mostly flat in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of Campbell Soup ( CPB ) since Dec.2, 2009, when the stock was trading at $35.56. The company has a 3.33% dividend yield, based on last night's closing stock price of $34.83.

Campbell Soup Company ( CPB ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CPB

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