Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, August 31, 2018

Article Excerpt

CAMPBELL SOUP CO., $39.345, New York symbol CPB, has now completed a strategic review of its operations. As a result, it 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 Campbell’s total sales. The company aims to complete those sales in the next year or so. After that, the company will focus on canned soups, pasta, V8 vegetable juices and snack products from its acquisition of Snyder’s-Lance in March 2018 for $6.1 billion. Most of its sales will come from North America. Meantime, Campbell’s sales in its fiscal 2018 fourth quarter, ended July 29, 2018, rose 33.4% to $2.22 billion from $1.66 billion a year earlier. That’s mainly due to the Snyder’s-Lance purchase. Without those new operations, sales fell 3% on weaker demand for canned soups. Earnings in the quarter fell 51.9%, to $0.25 from $0.52. That amount excludes costs related…