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Campbell Soup Company (CPB)

  • Sep. 4, 2013, 1:43 PM
    • Green Mountain Coffee Roasters (GMCR +1.5%) and Campbell Soup (CPB +0.4%) agree to partner to create soup K-Cups for Keurig coffee machines.
    • Execs with Campbell Soup say the company is forecasting FY14 revenue growth of 5% to 6%.
    • webcast
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  • Aug. 30, 2013, 1:48 PM
    • "We expect a slowdown in FY14 due to higher comps, less support from truly innovative new products and less likelihood of a weather related tailwind during the soup season," Jefferies' Thilo Wrede says, cutting Q1 and FY14 EPS estimates for Campbell Soup (CPB -0.6%) to $0.90 (from $0.95) and $2.59 (from $2.70) following the company's FQ4 report.
    • Wrede also notes that CPB's guidance (adjusted EPS growth of 3-5%) is "below consensus."
    • "If you've got support from weather and you've got support from a lot of new innovation ... what's going to be the incremental benefit that you get in FY14 to maintain the growth rate? Why wouldn't it slow down again in U.S. Soup?" Wrede asks on the conference call. "The drivers of demand are really all about improvements in execution ... we're pretty positive about U.S. Soup," CEO Denise Morrison responds.
    • Hold rating reiterated, price target cut to $42 from $44.
    • More: Earnings, Q4 highlights, CC transcript
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  • Aug. 29, 2013, 8:23 AM
    • Campbell Soup (CPB) went back to the basics in Q4 by improving soup sales growth by 5%.
    • Despite the penny beat on the bottom line, growth rates were unimpressive. During the quarter, volume and mix both improved by 1% while promotional spending took a percentage point off. (PR)
    • CPB -1.6% premarket.
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  • Aug. 29, 2013, 7:04 AM
    • Campbell Soup (CPB): FQ4 EPS of $0.43 beats by $0.01.
    • Revenue of $1.72B misses by $0.12B. (PR)
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  • Aug. 29, 2013, 12:05 AM
  • Aug. 28, 2013, 5:30 PM
  • Aug. 16, 2013, 3:32 PM
    • Campbell Soup (CPB) and the American Heart Association face a lawsuit  over claims made on labels of Healthy Request soup cans.
    • The suit alleges the cans falsely claim what is the proper nutritional criteria for levels of sodium.
    • Attorneys in the case seek to make the case a class action.
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  • Aug. 14, 2013, 3:57 PM
    • Kerry O’Shea of Huntington Beach, California is angry with Campbell Soup (CPB -1.8%) and the American Heart Association — so angry in fact, that she's filing a lawsuit.
    • O'Shea claims that the AHA has no business allowing CPB to display the "Heart-Check Mark" logo on the side of Healthy Request soups because each can allegedly has "at least six times as much sodium as the organization recommends."
    • "That misrepresentation (or omission of the true facts) is unfair, deceptive, and misleading," Bloomberg quotes the complaint as saying.
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  • Aug. 12, 2013, 10:38 AM
    • A plan by Campbell Soup (CPB -0.9%) to lighten up on European brands is part of a broad strategy to transition into faster-growing segments.
    • Selling souped-up products to younger consumers as well as entering more organic food and baby food segments will be a large part of Campbell's focus in the future.
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  • Aug. 12, 2013, 10:33 AM
    • Campbell Soup (CPB -0.9%) says it's putting the finishes touches on a deal to sell off its European businesses to CVC Capital Partners.
    • The company didn't disclose how much it expects to fetch in the sale, but indicated a deal could be completed by the end of October.
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  • Jul. 24, 2013, 8:06 AM
    Ahead of an investor meeting on 2014 plans, Campbell Soup (CPB) reiterates fiscal 2013 EPS guidance of $2.58-$2.62. Bolthouse Farms is expected to contribute $750M to sales and $0.06 to EPS. CEO Morrison: "We are executing against a dual mandate to strengthen our core business and expand into higher growth spaces." Meeting begins at 10 ET (webcast).
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  • Jun. 26, 2013, 5:22 PM
    Campbell Soup Company (CPB) declares $0.29/share quarterly dividend, in line with previous. Forward yield 2.61%. For shareholders of record July 8. Payable July 29. Ex-div date July 3. (PR)
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  • Jun. 26, 2013, 8:21 AM
    Consumer Staples watch: Major U.S. food companies (GIS, K, CPB, POST, CAG) have been swept up in a rush by investors to dividend-paying consumer staples (XLP) but the tide could be turning with Treasury yields higher and earnings reports from the group looking uninspiring. Rahul Sharma notes the higher exposure to emerging markets of companies like Coca-Cola (KO), Philip Morris (PM), and PepsiCo (PEP) looks appealing with Western shoppers increasingly focused on pricing and volume gains hard to come by.
  • Jun. 18, 2013, 9:00 AM
    Campbell Soup's (CPB) acquisition of Danish firm Kelsen Group is a move designed to boost the company's presence in China and other global markets, according to food industry analysts. With its 20-year history of growing brands in China, Kelsen provides a convenient shortcut to the booming sweet biscuits market in the nation.
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  • Jun. 17, 2013, 5:08 PM
    Campbell (CPB) is acquiring Denmark's Kelsen Group, owner of the Kjeldsens and Royal Dansk baked snack brands (the latter is known to U.S. consumers for its butter cookies), from P-E firm Maj Invest for an undisclosed sum. Kelsen had 2012 sales of $180M, has been growing at a "compound double-digit rate" since '09, and has seen its Chinese sales grow at a 28% CAGR over the last 3 years. The deal will bolster a baked snack business that includes the Pepperidge Farm cookie/cracker brand, and the Arnotts Australian biscuit brand. It's expected to be "modestly accretive" starting in 2014.
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  • May. 24, 2013, 10:15 AM
    Campbell's Soup (CPB -0.8%) trades lower after announcing it will acquire Plum Organics, a maker of organic foods for kids, for an undisclosed amount. CPB is apparently looking to cash in on a growing market for premium and organic baby food and says that with the addition, the company's "portfolio of kids-focused soups, beverages and snacks will have annual sales of more than $1B." Plum is the No. 4 baby food brand in the country, with $93M in gross sales during 2012. (PR)
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Company Description
Campbell Soup Co together with its subsidiaries is engaged in manufacturing and marketing of branded convenience food products.