clearstockconcepts/iStock Unreleased via Getty Images In January, I wrote an article about Campbell Soup Company (NYSE:CPB), focusing on the company's broad interests in food and snacks other than soup. Since that time, the company has risen in price almost 14%. Today, I want to revisit Campbell Soup's value at the higher price, and after they completed the acquisition of Sovos Brands in March for $23 per share. The deal cost about $2.7 billion, but gives Campbell Soup access to the valuable Rao's brand in ...

Food stocks got a big boost on Aug. 14 when the speculation privately held Mars was in serious negotiations to buy Kellanova (NYSE:K), the owners of Eggo, Cheez-It and many other food brands, turned into confirmation. Mars will pay $36 billion, or $83.50 a share, a 33% premium to Kellanova's Aug. 2 closing price, the day before Reuters first reported the potential tie-up. Kellanova stock is up more than 40% over the past month as a result. Last October, the former Kellogg Company was separated from its Nort ...

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Campbell Soup Company (CPB) has been demonstrating strong execution and strategic resilience amid a dynamic consumer environment. The company's Snacks division, anchored by robust power brands, remains strong despite temporary pressures. That said, the Meals and Beverages unit remains a vital growth catalyst. Robust Snacks Unit Though sales in the segment decreased year over year in the third quarter of fiscal 2024 due to declines in lower-margin partner brands, contract manufacturing and fresh bakery, the ...

Insider Trading Selling Shares Campbell Soup analyst ratings and price targets are at MarketBeat. Consensus price targets indicate 5.28% upside to $46.31. With a name like Campbell Soup Co., it would be easy to mistake the company for solely a soup maker. Campbell is an iconic name and brand, but it has diversified its portfolio of brands way beyond soup into two divisions: Meals & Beverages and Snacks. Sequential net sales growth and volume and mix improvements helped to drive double-digit growth in adjust ...

Key Takeaways Campbell Soup CEO Mark Clouse said that Campbell Soup's acquisition of Sovos, which was completed on March 12, "already is bringing significant incremental growth to our company as we continue to navigate the pace of consumer recovery." Because of the addition of Sovos, Campbell Soup raised its full-year revenue growth estimate to 3% to 4%, up from the previous outlook of a decline of 0.5% to 1.5% growth. However, it cut its adjusted EPS forecast to $3.07 to $3.10, from the earlier $3.09 to $3 ...

Campbell Soup Company (CPB) came out with third-quarter fiscal 2024 results, wherein the top and bottom lines increased year over year and beat their respective Zacks Consensus Estimate. While the top line gained from the recent acquisition of Sovos Brands (concluded in March 2024), the bottom line was driven by factors like enhanced supply-chain productivity and cost savings. Campbell Soup updated its guidance to include the impacts of its Sovos Brands acquisition and the anticipated performance of the bas ...

Got it. Okay. That's super helpful. And then, Mark, maybe just a quick one on Meals & Bevs, I think you called out in the press release, foodservice actually as a source of upside that you would seem to kind of buck the trend relative to what we're hearing from a lot of other folks. So maybe you can just touch on that a bit. Great, thank you. Good morning, Mark and Carrie. Yeah, that's great. Appreciate the color. I'll hop back in the queue. Operator Your next question comes from a line of David Palmer from ...

Greetings, ladies and gentlemen, and welcome to the Campbell Soup Company third quarter fiscal 2024 earnings conference call. At this time, all participants are in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press the star one. As a reminder, this conference call is being recorded. I ...

For the quarter ended April 2024, Campbell Soup (CPB) reported revenue of $2.37 billion, up 6.3% over the same period last year. EPS came in at $0.75, compared to $0.68 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.34 billion, representing a surprise of +1.23%. The company delivered an EPS surprise of +7.14%, with the consensus EPS estimate being $0.70. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...