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Campbell Soup Q3 Profit Rises, Beating View (CPB)

Posted: 5/23/2011 8:48:00 AM
Referenced Stocks: CPB

Packaged foods maker Campbell Soup Company ( CPB ) on Monday posted better-than-expected fiscal third quarter earnings and said it expects full-year results to come in at the high-end of its previously-announced forecast.

The Camden, NJ-based company reported fiscal third quarter net income of $187 million, or 57 cents per share, compared with $168 million, or 49 cents per share, in the year-ago period.

Sales edged slightly higher to $1.81 billion.

On average, Wall Street analysts expected a smaller profit of 52 cents per share, on matching revenue of $1.81 billion.

The company said it expects full-year earnings to range from up 1% to 3% from last year, on revenue down 1% to up 1%.

Campbell Soup shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Campbell Soup ( CPB ) have a 3.29% dividend yield, based on Friday's closing stock price of $35.24. The stock has technical support in the $33 price area. If the shares can firm up, we see overhead resistance around the $37-$38 price levels.

Campbell Soup Company ( CPB ) is not recommended at this time, holding a DARS™ Rating of 3.4 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 .