Campbell Soup (CPB)

• Market cap: $12.8B
• 1 day: -2.92%
• 5 days: -5.06%
• 1 month: -10.77%
• 3 months: -11.83%
• 6 months: -5.62%
• Year to date: -3.55%
• 1 year: 6.54%
• 5 years: -8.74%
• 10 years: -3.16%
• Sector: Consumer Staples
• Industry: Food & Kindred Products

About: Over the past 150-plus years, Campbell has evolved into a leading packaged food manufacturer in North America, with a portfolio that extends beyond its iconic red-and-white labeled canned soup. In fiscal 2024, snacks accounted for nearly half of its revenue, followed by soup (28%), other simple meals (17%), and beverages (7%). Outside its namesake, its brands include Pepperidge Farm, Goldfish, Snyder's of Hanover, Swanson, Pacific Foods, Prego, Pace, V8, and recently acquired Rao's (which closed in March 2024). Around 90% of its revenue results from the US and the remainder from Canada and Latin America.

Employees: 14,400

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

3% more repeat investments, than reductions

Existing positions increased: 213 | Existing positions reduced: 206

1% more capital invested

Capital invested by funds: $7.54B [Q2] → $7.64B (+$100M) [Q3]

1% more first-time investments, than exits

New positions opened: 81 | Existing positions closed: 80

0% more funds holding

Funds holding: 625 [Q2] → 626 (+1) [Q3]

10% less call options, than puts

Call options by funds: $69.6M | Put options by funds: $77.2M

3.35% less ownership

Funds ownership: 55.93% [Q2] → 52.58% (-3.35%) [Q3]

20% less funds holding in top 10

Funds holding in top 10: 5 [Q2] → 4 (-1) [Q3]

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $45 4% upside
• Avg. target: $51 19% upside
• High target: $59 37% upside

14 analyst ratings

• positive: 4 29%
• neutral: 9 64%
• negative: 1 7%

Piper Sandler Michael Lavery 41% 1-year accuracy 13 / 32 met price target	30% upside $56	Overweight Upgraded	14 Nov 2024
Bernstein Alexia Howard 0% 1-year accuracy 0 / 5 met price target	34% upside $58	Outperform Upgraded	7 Oct 2024
DA Davidson Brian Holland 79% 1-year accuracy 15 / 19 met price target	18% upside $51	Neutral Downgraded	27 Sept 2024
Argus Research Taylor Conrad 60% 1-year accuracy 6 / 10 met price target	37% upside $59	Buy Upgraded	20 Sept 2024
RBC Capital Nik Modi 40% 1-year accuracy 17 / 42 met price target	18% upside $51	Sector Perform Maintained	13 Sept 2024