41.25 -0.04 (-0.10%)
Pre-Market: 8:44AM EDT
|Bid||41.25 x 2200|
|Ask||42.30 x 900|
|Day's Range||41.09 - 41.41|
|52 Week Range||32.03 - 43.98|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||39.86|
|Earnings Date||Aug 28, 2019 - Sep 3, 2019|
|Forward Dividend & Yield||1.40 (3.39%)|
|1y Target Est||39.00|
Campbell (CPB) focuses on exiting non-key businesses, in line with board-led strategies. The company announces deal to sell Kelsen Group.
Campbell Soup is selling off its Danish snack division Kelsen Group to a Ferrero-affiliated company for $300 million, the company announced Friday. The sale of the international snack brand comes as Campbell divests itself of several divisions, such as its fresh food portfolio that included Bolthouse Farms. Kelsen was sold separately from the rest of Campbell’s international assets, Campbell President and CEO Mark Clouse said in a press release. “The sale of Kelsen Group supports our strategy to focus on North America, where we have iconic brands and strong market positions, while reducing debt,” Clouse said. Campbell (NYSE: CPB) is still looking to sell the rest of its international brands, Clouse said.
Campbell Soup Co said on Friday it would sell its Danish unit Kelsen Group to an affiliate of Nutella maker Ferrero SpA for $300 million. Belgian holding company CTH Invest, a Ferrero affiliate, said it would take over Kelsen's two production facilities in Denmark and add fine biscuits assortments to its portfolio with the deal. "The sale of Kelsen Group supports our strategy to focus on North America where we have iconic brands and strong market positions, while reducing debt," Campbell Chief Executive Officer Mark Clouse said in a statement.
Campbell Soup Company (CPB) announced today that it has signed a definitive agreement for the sale of Kelsen Group to a Ferrero affiliated company for $300 million, subject to customary purchase price adjustments. Proceeds from the divestiture will allow Campbell to reduce debt. Based in Nørre Snede, Denmark, Kelsen is a producer of quality baked snacks whose primary brands include Kjeldsens and Royal Dansk.
"Today we communicated to a small number of North American employees that their positions have been eliminated," spokesman Thomas Hushen said in a statement to the Philadelphia Business Journal. "The changes we've announced today will allow us to become a leaner, more agile organization," Hushen said. "These decisions are always very difficult, but necessary to build a more-focused organization that has the stability and discipline to return Campbell to sustainable, profitable growth." Less than 1% of Campbell's workforce was affected.
Campbell Soup Co NYSE:CPBView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is moderate * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is moderate for CPB with between 5 and 10% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $7.62 billion over the last one-month into ETFs that hold CPB are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. CPB credit default swap spreads are near the lowest level of the last one year and indicate improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Lamb Weston (LW) focuses on enhancing capacity, undertaking innovation and boosting LTOs. However, costs continue to rise in Europe.
Tuesday ahead of the opening bell, PepsiCo will be one of the first major companies to deliver second-quarter financial results.
Nu Skin's (NUS) customer base rises steadily, courtesy of effective marketing strategies and launches. However, adverse impacts of currency rates are concerns.
Dean Foods (DF) is grappling with cost inflation and soft volumes. However, the company is on track with its comprehensive productivity program, including OPEX 2020 and company-wide initiatives.
Coty (COTY) announces robust initiatives to enhance business capabilities in the upcoming four years. However, cost associated with the same are likely to affect performance in the near term.
Pacific Equity Partners has set up a new company as part of its plans to buy the international business of U.S. food company Campbell Soup Co, The Australian Financial Review reported citing anonymous sources. The Australian private equity firm is getting ready to bid for Campbell Soup's international brand portfolio, including local cookie brand Arnott's, with a valuation of A$3 billion ($2.10 billion), the paper said. Representatives from Campbell Soup did not immediately return an email seeking comment.
General Mills (GIS) released its fourth-quarter fiscal 2019 results on June 26. Its performance was mixed, with its bottom line growing healthily and exceeding Wall Street’s estimate.
(Bloomberg Opinion) -- One of the biggest losers in the S&P 500 Index this week is AbbVie Inc., which took a dive after the drugmaker announced one of the year’s biggest mergers. It’s emblematic of a trend that’s seen some of the most daring dealmakers punished for their pricey pursuits. CEOs considering large-scale M&A should take it as a note of caution heading into the second half of 2019. On the one hand, it’s not completely surprising that an acquirer’s stock would fall after announcing an acquisition, especially one as large as AbbVie’s $63 billion offer on Tuesday for Botox manufacturer Allergan Plc, a business that brings with it some $22 billion of net debt. But AbbVie’s 16% sell-off went beyond the typical post-deal dent, and it hasn’t recovered yet. It’s also not alone.It was a similar case on Monday when Eldorado Resorts Inc. struck a $17.3 billion deal for Caesars Entertainment Corp. to expand its casino portfolio, a transaction that came at the urging of billionaire activist hedge-fund manager Carl Icahn. Eldorado sank 11% that day. Earlier this month, investors also balked at United Technologies Inc.’s merger with $50 billion missile maker Raytheon Co., which will create a new behemoth in the aerospace and defense industry.The list goes on: Shares of Occidental Petroleum Corp. have tumbled 17% to a more than decade low since it agreed to buy Anadarko Petroleum Corp. for $57 billion last month. And Bristol-Myers Squibb Co. still hasn’t reversed its 14% retreat in the wake of the January announcement that it’s acquiring Celgene Corp. in a transaction valued at more than $80 billion. In all, megadeals getting the thumbs down this year are worth about $440 billion. In recent years, investors had gone soft on dealmakers as the market got swept up in a merger wave that promised to revive earnings growth. In some cases, acquirers’ stock prices even headed higher on deal announcements, as shareholders were just glad to see the companies do something with all their cash.But this year, that’s changed. Companies are clearly being penalized for doing megadeals, which I define as transactions in the $20-billion-and-up range. This chart shows the average acquirer’s stock-price change on the first day its deal was announced:This trend is also interesting given the fact that megamergers are what’s currently driving the broader M&A market. The nine announced so far this year represent 30% of the total value of global M&A activity, a far higher proportion than in any of the last 20 years. (That's not including private equity-led buyouts.)In comparison, deals in the $1 billion to $5 billion range – considered the bread and butter of the M&A market – have dried up, as I wrote earlier this month. Global dealmaking was down 16% when that piece published; now it’s down just 2% on account of the recent flurry of megadeals. (I had wondered whether U.S. trade tensions with China and Mexico would derail future large-scale acquisitions, but so far that’s not the case.)Time and time again, it’s been shown that the acquiring companies in giant deals tend to lag behind the broader market in subsequent years. Just this week, my colleague Max Nisen drilled into data on pharmaceutical mergers, which showed that AbbVie’s sell-off may just be an early manifestation of what’s usually inevitable later on. While Big Pharma often has good reason for turning to big purchases, such as the loss of patent protection on blockbuster drugs, Max found that in most cases only very patient investors were rewarded in the long run, and even then the returns trailed the S&P 500. Companies in other industries – such as Campbell Soup Co., CVS Health Corp. and Verizon Communications Inc. – have also disclosed writedowns because they overpaid for deals in recent years.It’s understandable if investors are feeling less giddy about megamergers. After witnessing AbbVie and Eldorado’s brutal week, who dares to step up next?To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
United Natural (UNFI) benefits from prudent buyouts and other efficiency boosting plans. However, it is grappling with dismal gross margin and higher labor cost.