Mexican partnerships should boost sales

Article Excerpt

CAMPBELL SOUP CO. $40 (New York symbol CPB; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 314.4 million; Market cap: $12.6 billion; Price-to-sales ratio: 1.6; Dividend yield: 2.9%; TSINetwork Rating: Above Average; www.campbellsoupcompany. com) aims to increase its Mexican sales through new alliances with two of that country’s leading food makers. As a result, Campbell will close its plant in Mexico. It expects to pay $6 million in severance and other costs. Meanwhile, Campbell earned $220 million in the three months ended January 27, 2013. That’s up 6.3% from $207 million a year earlier. Earnings per share rose 9.4%, to $0.70 from $0.64, on fewer shares outstanding. Sales rose 10.5%, to $2.3 billion from $2.1 billion, mainly due to a recent acquisition. Campbell Soup is a buy. buy…