Mon, Jan. 12, 10:45 AM
- Citigroup downgrades a number of food stocks on its view higher consumer spending in the sector may already by priced into share prices.
- Exposure to global markets also poses a risk due to currency swings and uneven demand, say analysts.
- The investment firm takes the rating on ConAgra (CAG -1%), Mondelez International (MDLZ -0.8%), and Kellogg (K -0.9%) to Neutral from Buy.
- McCormick & Company (MKC -0.8%), Kraft Foods Group (KRFT), and Campbell Soup (CPB) are all moved to Sell from Neutral.
Wed, Jan. 7, 10:59 AM
- Most investment firms weighing in think PepsiCo (PEP +2.3%) is too big of a target for 3G to land as they dissect the WSJ report on interest in the multinational.
- Campbell Soup (CPB +4.3%) is trading like it's viable 3G target, while Kellogg K, and Kraft Food Group (KRFT +2.1%) have also been bandied around by retail analysts as possibilities.
- Outside of the food sector, Bloomberg's Tara Lachappelle notes Colgate-Palmolive (CL +0.2%) makes sense for 3G.
Wed, Jan. 7, 8:05 AM
- Campbell Soup (NYSE:CPB) is higher in early trading after being thrown back into the M&A pot.
- Today's speculation centers on a play from 3G in the food sector.
- It's of note that 3G was able to quickly cut $700M in costs when it snapped up Heinz and lifted the company's profit margins by 700 bps.
- CPB +2.3% premarket to $44.01.
Wed, Jan. 7, 7:12 AM
- Shares of Campbell Soup (NYSE:CPB) and PepsiCo (NYSE:PEP) are on watch after the WSJ reports 3G is discussing trying to acquire a major food company.
- Sources indicate the massive size of PepsiCo deal could prompt a partial buyout or a bid in tandem with Aneuser-Busch InBev (NYSE:BUD).
- PEP +0.8% premarket, CPB inactive.
Nov. 26, 2014, 5:37 PM
Nov. 25, 2014, 7:24 AM
- Campbell Soup (NYSE:CPB) reports organic sales increased 5% in FQ1.
- The U.S. segment saw volume/mix increase 8% during the quarter. Operating income +15% to $242M.
- Gross margin rate -120 bps to 34.7%, due in part to cost inflation.
- Marketing and selling expenses -5% to $247M.
- Guidance: FY15 sales growth of 0%-2% expected and EPS of $2.42-$2.50 vs. $2.47 consensus.
Nov. 25, 2014, 7:17 AM
Nov. 24, 2014, 5:30 PM
Nov. 19, 2014, 4:34 PM
Oct. 10, 2014, 2:05 PM
- There's more consumer staples names to add to the list of out-performers on the day with investors peeling off some tech and momentum favorites.
- The partial list below represents stocks up at least 1% on the day with a dividend yield of over 2%.
- Back in favor: AVP, KO, MO, RAI, BUD, PF, BGS, DPS, CPB, LO, DF.
Oct. 7, 2014, 9:54 AM| Oct. 7, 2014, 9:54 AM | Comment!
Sep. 22, 2014, 5:19 PM
Sep. 8, 2014, 12:52 PM
- Campbell Soup (CPB -2.3%) says the turnaround of sales is taking longer than it anticipated due to a challenging consumer environment.
- Management expects a more consistent first half for its FY15.
- Innovation in brands is on tap for next year with a goal to recharge organic sales. The Prego and Pace brands are mentioned.
- Longer-term financial targets weren't changed by the company, even though Campbell needs a point of sales growth and two points of EBIT gains to get to the bottom of its range. CEO Denise Morrison says M&A could be an option as a mechanism to reach those targets.
- Earnings call webcast
Sep. 8, 2014, 7:48 AM
- Campbell Soup (NYSE:CPB) reports organic sales fell 2% in FQ4.
- Acquisitions added 3% to growth while promotional spending clipped 2%.
- Gross margin rate -210 bps to 34.1%.
- Segment growth: U.S. Simple Meals +5% to $518M; Global Baking and Snacking +10% to $628M; International Simple Meals and Beverages +1% to $188M; U.S. Beverages +6% to $184M; Bolthouse and Foodservice +11% to $334M.
- Guidance: Full-year EPS of $2.45-$2.60 expected vs. $2.54 consensus.
- CPB -1.9% premarket
Sep. 8, 2014, 7:24 AM
Sep. 7, 2014, 5:30 PM
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