Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 10, 2022

Article Excerpt

CAMPBELL SOUP CO., $46.93, New York symbol CPB, is still a buy for long-term gains. Under its new strategic plan, which began in 2018, Campbell sold most of its international and refrigerated-foods businesses. That let it focus on canned soups, pasta and V8 vegetable juices. Campbell also kept its snack food operations. They were significantly expanded in March 2018 when the company paid $6.1 billion for snack-foods maker Snyder’s-Lance. Campbell continues to see steady demand for its soups and snacks even though it has raised its selling prices to offset higher costs for food ingredients and labour. In its fiscal 2022 third quarter, ended May 1, 2022, Campbell’s sales rose 7.4%, to $2.13 billion from $1.98 billion a year earlier. That topped the consensus forecast of $2.05 billion. If you factor out businesses Campbell recently sold as well as currency rates, sales gained 8.6%. The higher sales also lifted the company’s earnings before one-time items in the quarter by 37.3%, to $0.70 a share from…