The SG Americas Securities LLC has reduced its position in Campbell Soup, while the company has appointed Jill Pratt as the SVP, Chief Marketing Officer for Meals & Beverages and Anthony Kyles as the Chief Customer Officer of Meals & Beverages. Manning & Napier Advisors LLC has taken a significant position in Campbell Soup while Mather Group LLC has bought shares. Campbell Soup has also completed its acquisition of Sovos Brands, Inc and plans to invest up to $150 million in Maxton, creating around 100 jobs.
Campbell Soup stocks are performing well in the market, its stock rising due to an upgrade from JPMorgan. Its Q3 2024 earnings topped estimates, while sales dropped year on year. The company also issued a warning on full-year outlook for 2024, but showed resilience amid challenges.
With 53% ownership, Campbell Soup boasts strong institutional backing and plans to transfer its stock exchange listing to Nasdaq. It's noteworthy that 42% of Campbell's profits are from non-soup products. They have also announced a dividend of $0.37.
However, the company is undergoing major restructuring, impacting 415 jobs, while it plans to close one facility, downsize another, and invest $230 M in newer sites.
Finally, Campbell Soup stocks have been downgraded to sell by StockNews.com, while Campbell Soup has announced its Q2 earnings expectations.
Campbell Soup Company CPB News Analytics from Wed, 08 Nov 2023 08:00:00 GMT to Sun, 11 Aug 2024 14:28:47 GMT - Rating 6 - Innovation -4 - Information 2 - Rumor -6
