BofA Securities analyst Bryan Spillane reiterated an Underperform rating and $45.00 price target on Campbell Soup (NYSE: CPB) ahead of 4Q21 earnings on Wednesday, September 1st. Visible Alpha consensus is EPS of $0.48.

The analyst stated "we expect 4Q shipments to lag consumption in simples given the prior year comparisons. We forecast roughly 9pt headwind to net sales driven by lapping 53rd week and Plum divestiture. 2) We expect gross margins to decline 380bps driven by de-leverage, inflation, higher co-manufacturing costs and unfavorable mark to market hedging. 3) We forecast operating margins -104bps as CPB laps strong A&C spend in year ago period and COVID-19 costs/donations."

For an analyst ratings summary and ratings history on Campbell Soup click here. For more ratings news on Campbell Soup click here.

Shares of Campbell Soup closed at $40.43 yesterday.