Campbell Soup Shares Sink on Weak Outlook

Shares of Campbell Soup (CPB) - Get Report were down Thursday after the canned soup manufacturer outlined its fiscal-2017 earnings outlook with a range of $3 to $3.09 a share, that's at least six cents below expectations. CEO Denise Morrison said in a statement that she was 'not pleased' with the company's fiscal fourth-quarter results, noting 'disappointing' execution issues pertaining to Campbell's operations in France. 'While we have made progress, we recognize we need to deliver sales growth -- and it remains a top priority,' she added. Roughly 11 percent of the company's listed analysts maintain Buy ratings, 26 percent recommend selling the stock, and shares are up about nine percent so far on the year.

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