Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 23, 2018

Article Excerpt

CAMPBELL SOUP CO., $40.53, New York symbol CPB, reported better-than-expected quarterly results this week. Following a strategic review of its operations, Campbell now plans to sell its international and refrigerated-foods businesses. Those include its Bolthouse Farms (fresh carrots), Garden Fresh (salsa and dips), Arnott’s (biscuits) and Kelsen (cookies) brands. In all, they supply 25% of sales. After that, Campbell will focus on canned soups, pasta, V8 vegetable juices, and snack products from its $6.1 billion acquisition of Snyder’s-Lance in March 2018. Most of its sales will come from North America. In its fiscal 2019 first quarter, ended October 28, 2018, Campbell’s sales jumped 24.7% to $2.69 billion from $2.16 billion a year earlier. That’s mainly due to the Snyder’s-Lance purchase. Without those new operations, sales fell 3% on lower demand for canned soups and pasta sauces. Earnings in the quarter fell 14.1%, to $0.79 from $0.92. That amount excludes costs related to Campbell’s new strategy and writedowns. The earnings drop was largely due to…