Fri, Feb. 13, 8:40 AM
- Bank of America weighs in on the guidance cut by Campbell Soup (NYSE:CPB).
- Analysts weren't caught off-guard by the warning from Campbell after digesting the cadence in the sector, but see "limited upside" for shares due to the persistent headwinds.
- BofA cuts its 2015 EPS outlook on CPB to $2.36 from $2.44 and 2016 EPS to $2.53 from $2.60.
- Previously: Campbell Soup cuts guidance, shares -4.5% after-hours (Feb. 12 2015)
Thu, Feb. 12, 5:28 PM
- Campbell Soup (NYSE:CPB) -4.5% AH after lowering guidance for its FQ2 and the full year ending in August, partly due to foreign currency translation.
- CPB now sees FQ2 EPS of $0.65-$0.66 vs. $0.68 analyst consensus, revenues falling 2% to ~$2.24B and in line with consensus, and adjusted EBIT declining by ~17%.
- For FY 2015, CPB lowers EPS to $2.32-$2.38 from earlier guidance of $2.42-$2.50 and below $2.45 consensus, while seeing revenues rising or falling by ~1% to $8.19B-$8.35B vs. $8.2B consensus, reflecting the negative impact of currency translation; excluding the forex impact, sales guidance is unchanged.
- CPB had already lowered its outlook in November, pointing to currency volatility.
Thu, Feb. 5, 9:08 AM
- Kraft Foods (NASDAQ:KRFT) has found a vibrant channel for its Velveeta brand in dollar stores.
- The company was very close to pulling the plug on the product last year amid soft grocery store sales.
- General Mills (NYSE:GIS) and Campbell Soup (NYSE:CPB) are also exploring selling more brands in dollar stores due to the potential for higher profit margins in certain categories.
- The development could aid the dollar store group (DLTR, DG, FDO) which has lost some quick-stop grocery market share to convenience stores.
Thu, Jan. 29, 9:42 AM
- Campbell Soup (CPB -0.5%) announces it will reorganize its business across lines of products instead of geographic segments.
- The three segments will be Americas simple meals and beverages, global biscuits and snacks, and packaged fresh.
- The company also reset its management team for each new division.
- Though M&A speculation persists on Campbell Soup, the new business split also sets its up for a spinoff in the future.
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| Comment!
Sep. 22, 2014, 5:19 PM
CPB vs. ETF Alternatives
Other News & PR