Campbell’s sells yogurt brand

Article Excerpt

THE CAMPBELL’S CO. $46 is a buy. The company (Nasdaq symbol CPB; Conservative Growth Portfolio, Consumer sector; Shares o/s: 298.1 million; Market cap: $13.7 billion; Price-to-sales ratio: 1.5; Dividend yield: 3.2%; TSINetwork Rating: Above Average; www.thecampbellscompany.com) has changed its name from Campbell’s Soup Co. It also transferred its stock listing from the New York Stock Exchange to Nasdaq (the shares continue to trade under the “CPB” symbol). Campbell’s is now selling its noosa yogurt business to Lakeview Farms for an undisclosed amount. The company acquired noosa as part of its purchase of Sovos Brands, the maker of Rao’s pasta sauces, in March 2024. The sale will cut Campbell’s earnings in the fiscal year ending July 31, 2025, by $0.01 a share, to $3.19. The stock trades at an attractive 14.4 times that forecast. The $1.48 dividend yields 3.2%. Campbell’s Co. is a buy. buy…