|Bid||38.62 x 1200|
|Ask||38.63 x 1400|
|Day's Range||37.66 - 38.72|
|52 Week Range||32.63 - 51.07|
|Beta (3Y Monthly)||-0.04|
|PE Ratio (TTM)||44.81|
|Forward Dividend & Yield||1.40 (3.77%)|
|1y Target Est||N/A|
Jim Cramer breaks down what activist investors could bring to the table at Starbucks, Campbell Soup and PPG Industries.
Third Point founder Daniel Loeb has sent a letter to the Campbell's board saying 'no top notch CEO' will join the company with the proxy vote in a few weeks. This comes after Loeb hiked his stake on the stock to 7% on Tuesday. CNBC's Leslie Picker repo...
After closing on its $6.1 billion acquisition of Charlotte snack company Snyder's-Lance earlier this year, the food and beverage company will next year open a 525,000-square-foot distribution center in Pineville.
Campbell Soup and New York hedge fund Third Point have been in a proxy battle. The Camden soup maker is giving shareholders more reasons to be on its side.
Campbell Soup Co. (CPB) is an iconic American brand with a history that dates back almost 150 years. Add to those snack foods with the acquisition of Snyder Lance. Warning! GuruFocus has detected 5 Warning Signs with CPB.
As we all know by now, on Wednesday U.S. stocks as the Dow Jones Industrial Average and the S&P 500 recorded their worst one-day drops since Feb. 8. The Dow Jones Industrial Average fell 831.83 points, or 3.2%, to 25,598.74. The S&P 500 dropped 94.66 points, or 3.3%, to 2,785.68, while Nasdaq Composite Index lost […] The post Stock Market News Daily Roundup October 11 appeared first on Market Exclusive.
In the daily bar chart of CPB, below, we can see a modest rally from early June to early August. Now look at the strength in the On-Balance-Volume (OBV) line -- the line goes up into September and has not really turned lower with prices. The trend-following Moving Average Convergence Divergence (MACD) oscillator turns lower in July and is below the zero line this month.
Activist investor Daniel Loeb and his hedge fund Third Point increased their stake in the Camden company. They want its board to hold off on choosing the next CEO until a new board has been implemented.
Activist investor Third Point LLC warned Campbell Soup Co. not to fill the open chief executive position at the food company ahead of its next annual meeting, which is scheduled for Nov. 29. In September, the activist investing firm led by Daniel Loeb launched a proxy fight to replace the entire board at Campbell, which lost its chief earlier this year amid flagging sales.
Yesterday we learned that Trian, the investment vehicle of Nelson Peltz, has built a 2.9% stake, or 7 million shares, in PPG -- a position largely built earlier in the year. Bill Ackman has accumulated 1.1% of Starbucks, an $878 million stake aided by the increase in the company's shares after the announcement of the new stake. Dan Loeb's Third Point, meanwhile, boosted its stake in the stock of Campbell's Soup from 5.65% to 6.9% -- and Loeb continues to put pressure on the company to replace its board.
CNBC's Jim Cramer breaks down what activist investors could bring to the table at Starbucks, Campbell Soup and PPG Industries. The "Mad Money" host also opines on whether individual investors should hop on board. With shares of Starbucks SBUX , Campbell Soup CPB and PPG Industries PPG now the targets of high-profile activist investors — and the rest of the market in a tailspin — CNBC's Jim Cramer wanted to make sure investors weren't getting ahead of themselves.
NEW YORK/CHICAGO (Reuters) - Third Point LLC warned Campbell Soup Co's (CPB.N) board on Wednesday against picking a new chief executive before next month's annual meeting, where the hedge fund wants to oust all current directors. Campbell reiterated last week that it is searching for a full-time replacement for former Chief Executive Denise Morrison, who left abruptly in May, and said on Wednesday that it expects to complete its search by year end. Third Point said in a letter sent to Campbell's board seen by Reuters that it is not appropriate to search for a new chief executive during a proxy contest when shareholders will be asked to vote on a new board at the meeting on Nov. 29.
“All best practices of corporate governance dictate that one of the most important responsibilities of any board is to hire and supervise a CEO,” Loeb said in a letter Wednesday to Chairman Les Vinney. “The board, with the support of leading candidate assessment and executive search firms, has been examining qualified candidates who possess a track record of proven results and achievement for months,” according to the statement. Campbell, based in Camden, New Jersey, has been without a permanent CEO since the unexpected departure of Denise Morrison in May. Shareholders are set to vote Nov. 29 on board nominees.
Third Point LLC's Dan Loeb on Wednesday escalated his change-of-control proxy fight at Campbell Soup Co. in a letter urging the soup and snack company to allow shareholders to have a voice in the company's CEO search process, essentially asking the company to wait until after the director battle he had launched concludes on Nov. 29 before picking a new CEO. "It seems to us that the chance of the company being able to attract a first-rate food executive in the middle of a proxy fight is low," Third Point said in a statement.
Activist hedge-fund manager Daniel Loeb sent a letter to the board of Campbell Soup that strongly suggests the company wait until a new board of directors is in place before selecting a new chief executive officer. Campbell shareholders will elect the board at a Nov. 29 annual meeting, and Loeb wants to throw all the current directors out.
Activist investor Daniel Loeb is scooping up more shares of Campbell Soup Co. According to a document filed Tuesday with the Securities and Exchange Commission, Loeb's hedge fund now owns a 7 percent stake in the Camden, New Jersey-based company. Loeb, who runs New York hedge fund Third Point LLC, has been pressuring Campbell Soup (NYSE: CPB) to either sell more assets to boost shareholder value or sell the entire company for a price of $58 per share. Campbell Soup has already confirmed plans to sell certain assets — Bolthouse Farms, Garden Fresh, Arnott’s and Kelsen brands — rather than put the entire company up for sale.
Daniel Loeb's Third Point Management has increased their stake in Campbell Soup from 5.65 percent to 6.98 percent, according to a filing with the SEC on Tuesday. Shares of Campbell rose 1 percent in after-hours trading following the news. Third Point announced its intention to try to replace the entire Campbell board earlier this year.
On October 8, UBS analyst Steven Strycula upgraded Conagra Brands (CAG) stock to “buy” from “neutral.” He increased the target price to $40 per share on Conagra Brands stock from $38, which reflects an upside potential of 15.4% based on the closing price of $34.65 on October 8. Strycula thinks that the synergies from the Pinnacle Foods acquisition, the improved volume, and the company’s improved mix with less discounting could drive long-term growth. Conagra Brands announced the Pinnacle Foods acquisition on June 27 for ~$10.9 billion, which includes Pinnacle Foods’ net debt of $2.7 billion.
Activists believe consumer discretionary, financials and industrials represent the areas where management will see the most shareholder action in the next year. According to a new study, 72 percent of activist respondents expect to raise "some" or "a lot" of new capital over the next year. The persistent interest in consumer companies comes shortly after Trian's battle with Procter & Gamble and amid Third Point's contest at Campbell Soup.
A date is set for the showdown between the company and activist investor Third Point, which is seeking to replace the entire Campbell Soup board.
According to these reports, Kraft Heinz did take a look at Campbell Soup, but didn’t get far past that. Rumors have been talking about a possible deal between Campbell Soup and Kraft Heinz, but it looks like it won’t be happening. This all goes against plans from activist investor Dan Loeb for the company to sell itself.
Activist Dan Loeb is embarking on what could be the biggest activist campaign of the year. with Campbell Soup Co. so we sat down with The Deal's Senior Editor Ron Orol to get the full scoop.
· GoPro (NASDAQ:GPRO) stock surged 7.8% after the company said its HERO7 Black camera reached the highest first-week retail unit sell-thru of any new camera.
Kraft Heinz has reportedly passed on buying the Camden, N.J.-based Campbell Soup Co., which is in its own proxy battle with hedge fund Third Point to hold on to its board of directors.