Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 7, 2025

Article Excerpt

CAMPBELL’S CO., $41.81, Nasdaq symbol CPB, is still a buy for long-term gains. Note—The company recently changed its name from Campbell Soup Co. to reflect its broader array of products, including soups, sauces and snack foods. It also transferred its stock listing from the New York Stock Exchange to Nasdaq (the shares continue to trade under the “CPB” symbol). The stock fell 2% after the company cut its sales forecast for the current fiscal year. Concerns that U.S. tariffs will raise its costs also weighed on the stock. In March 2024, the company completed its $2.9 billion acquisition of Sovos Brands Inc. (Nasdaq symbol SOVO), the maker of Rao’s pasta sauces. As a result of that purchase, Campbell’s sales in its fiscal 2025 second quarter, ended January 26, 2025, rose 9.3%, to $2.69 billion from $2.46 billion a year earlier. That missed the $2.74 billion consensus forecast. If you exclude businesses that Campbell’s bought and sold, sales fell 1.8% in the latest quarter. That’s due…