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15 mentions found


☆ Processed food stocks fall as investors brace for increased scrutiny under Trump, RFK Jr.
  + stars: | 2024-11-15 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Processed food stocks tumbled on Friday as investors feared a crackdown under President-elect Donald Trump and ally Robert F. Kennedy Jr. Cheerios cereal and Betty Crocker cake mix maker General Mills fell more than 2%, as did Conagra Brands , the company behind Reddi-wip. Frozen potato supplier Lamb Weston , whose french fries are sold in chains including McDonald's and Chick-fil-A, dropped more than 6%. Traders are wary that Kennedy's "Make America Healthy Again" focus will result in increased scrutiny of companies behind some of the best-known snack, packaged food and soft-drink brands. The stock bucked the trend with an advance on Friday, but finished down more than 4% on the week.
Persons: Donald Trump, Robert F, Kennedy, Betty Crocker, Mills, Reddi, Campbell, Kraft Heinz, Oscar Mayer, Lamb Weston, it's, WK Kellogg Organizations: Soda titans PepsiCo, Coca, Brands, Trump, Health, Human Services Department, Food and Drug Administration, Centers for Disease Control, Capitol, Senate, National Institutes of Health, Traders, NBC, WK Kellogg Co Locations: Canada
☆ Goldfish is changing its name to ‘Chilean Sea Bass.’ Here’s why
  + stars: | 2024-10-23 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Goldfish crackers are synonymous with hungry kids, but the company is betting that a sophisticated name change could expand that audience. The Pepperidge Farm snack brand is tweaking its name for a limited time to “Chilean Sea Bass,” a more grown-up title, the Campbell’s Company announced Wednesday. So, as a playful reminder, we went ahead and gave our iconic cheddar cracker a new, fun, grown-up name,” Danielle Brown, vice president of Goldfish, told CNN. But the Chilean Sea Bass snacks won’t appear on shelves: Bags featuring the branding are only being sold online beginning Wednesday and just for one week. Pepperidge Farm launched Goldfish in the United States in 1962 initially aimed at adults as a bar snack.
Persons: Gen Z, ”, they’re, ” Danielle Brown, Nate Rosen, Campbell, snacking, ” Rosen Organizations: New, New York CNN, Campbell’s Company, CNN, Express Locations: New York, snacking, Chilean, United States, upstarts, Utah
☆ Bernstein upgrades Campbell as people taking GLP-1 drugs eating more soup
  + stars: | 2024-10-07 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Campbell Soup could be poised to benefit from an uptick in GLP-1 drug usage, according to Bernstein. Among the 20 analysts covering Campbell, only five have a strong buy or buy rating, while 12 have a hold rating. In addition, the analyst anticipates that reduced chocolate consumption from GLP-1 intake may hinder U.S. chocolate volumes by 2% to 3%. "Unfortunately, chocolate category volumes remain stubbornly negative and Hershey's chocolate volumes also remain weak despite lapping easier and easier comparables in recent months," Howard continued. Meanwhile, only four have a strong buy or buy rating, and its average target of $202.14 implies a gain of about 5% ahead.
Persons: Campbell, Bernstein, Eli Lilly's Mounjaro, Alexia Howard, Milano, Howard, they've Organizations: Nordisk's Ozempic, Hershey Locations: GLP
☆ Battleground stocks: Wall Street is completely divided on these controversial names
  + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com   time to read: +4 min
Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.
Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge
☆ Campbell is dropping the ‘Soup’ from its name
  + stars: | 2024-09-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +1 min
New York CNN —No more soup for the Campbell’s company. The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company. In addition to its lineup of soups, Campbell now owns snack brands like Goldfish, Snyder’s of Hanover, Cape Cod, Pepperidge Farm and others. Campbell also recently bought Sovos Brands, maker of popular Italian food brands like Rao’s sauces. Although soup is an important part of Campbell’s business, it’s now a smaller portion of its sales.
Persons: Campbell, ” Campbell, Mark Clouse, it’s, ” Kellanova Organizations: New, New York CNN, Campbell Soup Company, Campbell’s, Sovos Brands Locations: New York, Hanover , Cape Cod
☆ JPMorgan upgrades Campbell Soup, saying its recently-acquired Rao's sauce business is thriving
  + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Campbell Soup 's acquisition of Rao's parent Sovos Brands is a key part of why JPMorgan is now bullish on the Camden, New Jersey-based food company for the first time in 15 years. Analyst Ken Goldman upgraded Campbell to overweight from neutral, a rating the bank hasn't had on the stock since 2009. The Rao's brand alone brought in nearly $775 million in annual net sales in 2023, driving Sovos sales above $1 billion last year. Rao's organic net sales climbed about 37% in 2023 from 2022, boosting the acquired business's growth rate to 25%. CPB .SPX YTD mountain Campbell Soup vs. S & P 500, year to date Despite the excitement around Rao's, the JPMorgan call comes amid a period of underperformance for Campbell.
Persons: Campbell, Ken Goldman, hasn't, Goldman, Sovos, Michael Angelo's, underperformance Organizations: JPMorgan, Wall, CPB Locations: Camden , New Jersey, noosa
☆ Cramer says HP Enterprise is in the 'promised land,' predicts this cyber stock will set a new high
  + stars: | 2024-06-05 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +1 min
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "Remarkable quarter," Jim Cramer said, adding: "I think the stock can take out its high" of roughly $351 a share set in May. The CNBC Investing Club owns cybersecurity rival Palo Alto Networks . They will integrate Nvidia into your company, and that is, of course, the promised land," Cramer said. Dollar Tree : Shares dropped more than 4% after the retailer reported earnings and confirmed it's exploring options of its Family Dollar brand of stores.
Persons: Jim Cramer's, Jim Cramer, Cramer, Campbell, Gordon Haskett Organizations: CNBC, Club, CrowdStrike's, CNBC Investing Club, Palo Alto Networks, Hewlett Packard Enterprise, Nvidia
☆ Campbell Soup CEO talks merger with Rao's sauce maker: 'This is a juggernaut'
  + stars: | 2023-08-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Campbell Soup CEO Mark Clouse told CNBC's Jim Cramer on Monday that his company's acquisition of Rao's sauce maker Sovos Brands is one of the best growth stories in the food business. Along with Rao's, Sovos also owns yogurt brand Noosa and frozen food brand Michael Angelo's. However, the premium Italian sauce brand is Sovos' money maker, representing 69% of its adjusted net sales in 2022, the company said. Clouse said the acquisition was an opportunity to drive Sovos' household penetration, or the portion of households reached by the products. He said the business is currently at 14% household penetration, while the benchmark for a premium brand is around 20%.
Persons: Campbell, Mark Clouse, CNBC's Jim Cramer, Rao's, Sovos, Michael Angelo's, Clouse, Monday's Organizations: Sovos, Pepperidge Locations: Noosa
☆ Campbell Soup Company buys Sovos Brands, maker of Rao’s for $2.7 billion
  + stars: | 2023-08-07 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +2 min
New York CNN —Iconic canned soup company Campbell is expanding its reach in the Italian food market. Campbell (CPB) announced Monday that it would acquire Sovos Brands, maker of the popular Italian food brands like Rao’s sauces and Michael Angelo’s frozen entrees, as well as noosa yogurt, in a deal worth $2.7 billion. But Campbell said Rao’s sauces attract a different consumer set than Prego’s. “Rao’s is the premium, market-leading sauce and it strengthens and diversifies our Meals & Beverages portfolio, complementing the core, mainstream portfolio,” the company told CNN. Sovos Brands founder and head Todd Lachman called the acquisition a “momentous occasion.”“We have built a one-of-a-kind, high growth food company focused on taste-led products across a portfolio of premium brands, anchored by the Rao’s brand,” he said in a statement included in Campbell’s news release.
Persons: Campbell, Angelo’s, “ We’re, ”, Mark Clouse, Rao’s, Michael Angelo’s, Todd Lachman Organizations: New, New York CNN, Campbell, Sovos Brands, Beverages, CNN, “ Locations: New York, noosa, “ noosa
☆ Campbell Soup beats quarterly profit estimates on price hikes
  + stars: | 2023-06-07 | by ( ) www.reuters.com   time to read: +1 min
June 7 (Reuters) - Campbell Soup (CPB.N) beat Wall Street estimates for third-quarter profit on Wednesday and maintained its annual forecasts, as the maker of Pepperidge Farm cookies benefited from multiple rounds of price increases. Peer J M Smucker (SJM.N) had forecast a smaller-than-expected decline in annual sales on the back of higher prices and steady demand for its products. The company maintained its annual net sales forecast for an 8.5% to 10% rise and adjusted profit expectations of $2.95 to $3.00 per share. Campbell's third-quarter gross profit margin was 30%, compared with 31.2% a year earlier, squeezed by still-high prices of commodities and freight as well as higher marketing expenses. The company's net sales rose 5% to $2.23 billion, in line with expectations.
Persons: Campbell, Kraft Heinz, J, Ananya Mariam Rajesh, Devika Organizations: Kellogg, Thomson Locations: Russia, Ukraine, Bengaluru
☆ Despite a mixed earnings report, Campbell Soup CEO is confident condensed products can turn a profit
  + stars: | 2023-06-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
CEO of Campbell Soup Mark Clouse told CNBC's Jim Cramer on Wednesday that despite his company's mixed earnings report, he is confident that Campbell's condensed products — especially the brand's staples like chicken noodle and tomato — are timelessly profitable. Clouse said Campbell's soup sales have been better than before the pandemic, especially among millennial clientele, many of whom are getting older and starting families. Even as more people start to dine outside the home post-Covid regulations, Clouse said demand for condensed canned soup remains strong. But he added that even Campbell's leadership had questioned the relevancy of condensed soup for younger consumers. Alongside its namesake soup products, Campbell also owns several well-known food and snack lines, including Pepperidge Farm, Snyder's of Hanover, Lance, V8 and Prego.
Persons: Campbell, Mark Clouse, CNBC's Jim Cramer, Clouse Locations: Snyder's, Hanover, Lance
☆ Campbell’s Enticing Future in Snacks
  + stars: | 2023-04-08 | by ( Aaron Back | ) www.wsj.com   time to read: 1 min
Campbell Soup Company has long been more than its name suggests. Now its underappreciated snack business looks set to become its star performer. Campbell is composed of two divisions: meals and beverages, which includes its namesake soups as well as brands such as Pace salsas and V8 juices; and snacks, which features the Pepperidge Farm line of cookies and Goldfish crackers, among other brands.
☆ Campbell Soup lifts annual sales forecast on robust snack demand
  + stars: | 2023-03-08 | by ( ) www.reuters.com   time to read: +2 min
March 8 (Reuters) - Campbell Soup Co (CPB.N) raised its annual sales forecast on Wednesday, betting on higher prices, improved supply and strong demand for its packaged meals and snacks. Shares of the Prego pasta sauces maker rose about 2% in premarket trading after it also topped market estimates for quarterly sales. Organic net sales in Campbell's snacks division, which represents roughly half of its portfolio, jumped 15% in the second quarter, fueled by robust demand for its brands including Goldfish crackers, Cape Cod potato chips and Pepperidge Farm cookies. The company's net sales rose to $2.49 billion in the quarter ended Jan. 29, from $2.21 billion a year earlier, compared to analysts' average estimate of $2.44 billion in Refinitiv IBES data. The Camden, New Jersey-based soup maker said it expected net sales to rise between 8.5% and 10% in fiscal 2023, compared with its previous forecast of 7% to 9% growth.
☆ Campbell Soup lifts sales outlook as Americans keep snacking
  + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com   time to read: +2 min
Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.
☆ Campbell Soup Names New CFO as It Looks to Continue Strong Growth
  + stars: | 2023-01-26 | by ( Jennifer Williams-Alvarez | Kathryn Hardison | ) www.wsj.com   time to read: +3 min
Campbell Soup Co. appointed its next finance chief as the soup and snack maker looks to build on its recent growth. The Camden, N.J.-based company on Wednesday said Carrie Anderson will become chief financial officer, effective Feb. 6. Carrie Anderson, incoming CFO at Campbell Soup Co. Photo: Campbell Soup Co.Ms. Anderson is set to join Campbell from medical technology company Integra LifeSciences Holdings Corp. , where she has been CFO since June 2019. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Campbell’s brands include its namesake soup, Prego sauces, Pepperidge Farm snacks and breads, and Cape Cod potato chips.
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