Campbell Soup Rao's Brand Growth Strong And US Sales Trend Improving, Analyst Upgrades Stock [Yahoo! Finance]
Campbell Soup Company (CPB)
Last campbell soup company earnings: 3/4 07:30 am
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Source: Yahoo! Finance
The analyst upgraded Campbell Soup due to improved long-term growth prospects from its Rao's brand and better sales trends in the U.S. (excluding SOVO brands). Despite better trends, the stock has had a 15% pullback since mid-September. The analyst sees this as a good buying opportunity. Lower steel costs (down 25%) and secured contracts for 2025 further support growth. The analyst raised 2025 and 2026 earnings per share (EPS) estimates slightly, from $3.20 to $3.21 and $3.37 to $3.38, respectively. Per the analyst, the stock is considered well-positioned among large-cap food stocks. Also Read: What's Going On With Ford Motor Stock Today? Campbell Soup has agreed to sell its Noosa yogurt business for an undisclosed amount, with the deal expected to close in first quarter of 2025. The company acquired Noosa as part of its SOVO purchase in March 2024. The analyst assumes the sale will be finalized on January 1, 2025, with proceeds of around $250 million. Per the analyst
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News
- Campbell’s Appoints Daniel L. Poland Chief Enterprise Transformation OfficerBusiness Wire
- Here are Thursday's biggest analyst calls: Nvidia, Netflix, Amazon, Microsoft, Tesla, Meta, Campbell Soup & more [CNBC]CNBC
- Campbell Soup (NASDAQ: CPB) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating. They now have a $56.00 price target on the stock, up previously from $47.00.MarketBeat
- Campbell to Divest Its noosa Yogurt Brand to Focus on Core Business [Yahoo! Finance]Yahoo! Finance
- Campbell to sell Noosa yogurt brand to Lakeview Farms [Yahoo! Finance]Yahoo! Finance
CPB
Earnings
- 8/29/24 - Beat
CPB
Sec Filings
- 11/12/24 - Form 8-K
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- CPB's page on the SEC website