Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 7, 2019

Article Excerpt

CAMPBELL SOUP CO., $43.08, New York symbol CPB, recently completed a strategic review of its operations. As a result, it plans to sell its international and refrigerated-foods businesses. That will let it focus on canned soups, pasta, V8 vegetable juices, and snack products. Campbell has now agreed to sell its Bolthouse Farms business, which produces fresh carrots, to a private equity firm for $510.0 million. The company is also looking at selling its Kettle Chips business, which it acquired as part of its $6.1 billion acquisition of snack-foods maker Snyder’s-Lance in March 2018. In the fiscal 2019 third quarter, ended April 28, 2019, sales from ongoing operations jumped 16.0% to $2.18 billion from $1.89 billion a year earlier. That missed the consensus forecast of $2.35 billion. The sales gain is mainly due to the Snyder’s-Lance purchase. Without those new operations, overall sales were flat, as higher sales of biscuits and snacks (53% of the total) offset lower demand for meals and beverages (47%). Campbell…

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