39.12 0.00 (0.00%)
After hours: 4:39PM EST
|Bid||38.50 x 2200|
|Ask||40.00 x 2200|
|Day's Range||38.56 - 39.14|
|52 Week Range||32.63 - 51.07|
|Beta (3Y Monthly)||-0.18|
|PE Ratio (TTM)||45.49|
|Earnings Date||Nov 20, 2018|
|Forward Dividend & Yield||1.40 (3.57%)|
|1y Target Est||36.40|
It is time for a change at Campbell Soup Co. Shareholders should vote to approve activist hedge fund Third Point’s nominees to the company’s board. Third Point was initially seeking to replace the entire board, an ambitious move that faced long odds of approval and risked substantial disruption. This was underscored by a report on Wednesday from Institutional Shareholder Services that takes Third Point’s side.
As of November 14, of the 12 analysts covering Hormel Foods’ (HRL) stock, 17% recommend a “buy” while 67% recommend a “hold” and the remaining 16% recommend a “sell.”
Institutional Shareholder Services Inc. urged Campbell’s shareholders to vote for Loeb’s slate of five director candidates. Glass Lewis & Co. gave Loeb’s efforts a partial endorsement, saying investors should vote for three of his nominees. Campbell’s underperformance and weak fundamentals “appear directly linked to shortcomings in the company’s acquisition strategy, poor execution of mergers, and a lack of focus on the company’s core business,” ISS said Wednesday in its recommendation.
Institutional Shareholder Services noted that the Camden, N.J.-based food company has underperformed its competitors.
Shareholder advisory firms Institutional Shareholder Services and Glass Lewis backed a push by Daniel Loeb's hedge fund to make changes at Campbell Soup Co (CPB.N), including replacing some board members. ISS recommended that investors elect all five of Loeb's Third Point LLC board nominees, giving a boost to the activist firm, which is fighting a high profile proxy battle with the company. Days ago Loeb backed off his call to replace the entire 12-person Campbell board.
Many investors fear that as global economic growth shows signs of slowing, the rosy assumptions built into companies’ profit forecasts could prove wrong, and at least some of the lowest-rated high-grade debt may end up getting cut to junk. Blue-chip company debt has been clobbered this week, and is on track for its worst year since 2008. One of the biggest whipping boys in corporate bond markets has been GE, which is facing weak demand for gas turbines, high debt levels and a federal accounting probe.
“Campbell largely agrees with the thoughtful views outlined by Glass Lewis in its report and appreciates its recognition of the current Board’s recent actions to improve performance – including significant management change and conducting a comprehensive Board-led strategy and portfolio review. This proposal was rejected by Third Point. Further, as part of the proxy process, we carefully reviewed the backgrounds and qualifications of all of Third Point’s nominees.
Investors Who Overlooked the Food Sector Missed Out on McCormickMcCormick outperforms broader markets and peers
Campbell (CPB) has been witnessing strained margins for a while now and is likely to bear the brunt of cost inflation in Q1. However, gains from buyouts should offer some respite.
Now, with Trump appointees leading the U.S. Securities and Exchange Commission, business groups are optimistic that they will win some restrictions on so-called proxy-advisory firms. At issue are companies such as Institutional Shareholder Services and Glass Lewis, which mutual funds and other shareholders pay for advice on how to vote in corporate elections. The U.S. Chamber of Commerce has long argued that proxy-advisory firms have too much influence and are riddled with conflicts of interest, charges that ISS and Glass Lewis reject.
An influential proxy adviser thinks Campbell Soup Co. could use a little outside help. Institutional Shareholder Services Inc. recommended that the food maker’s shareholders vote for all five of activist hedge fund Third Point LLC’s director nominees, according to a report released to ISS clients Wednesday and viewed by The Wall Street Journal. Proxy advisers’ recommendations can influence which way some institutional shareholders vote.
Investor advisory firm Institutional Shareholder Services came out in support Wednesday night of all of activist firm Third Point's efforts to put five of its nominees on the soup company board. Three descendants of Campbell's founder currently sit on the Campbell board. In a blow to Campbell CPB , investor advisory firm Institutional Shareholder Services came out in support Wednesday night of activist firm Third Point's efforts to put five of its nominees on the soup company board.
The independent proxy advisory firm ISS is recommending that Campbell Soup shareholders vote in favour of activist investor Dan Loeb's bid to appoint five directors to the soupmaker's board. Mr Loeb's Third Point hedge fund "has presented a compelling case that change at the board level is warranted" and that "a robust dissident presence on the board may be necessary to instill a greater sense of urgency", the firm said in a report on Wednesday. ISS is one of the most-watched proxy advisory firms that can sway the vote of some institutional investors and Mr Loeb's fund, Third Point, had been eager to get its approval.
“We strongly disagree with ISS’s conclusion and continue to recommend that Campbell shareholders vote on the GOLD proxy card FOR the election of Campbell’s 12 highly qualified director nominees. “Campbell benefits from a diverse and highly qualified Board of Directors that is actively engaged and focused on maximizing value for all shareholders. The Campbell Board consists of 12 members, 11 of whom are independent and four of whom have been added since 2016.
NEW YORK, NY/ ACCESSWIRE / November 14, 2018 / Pomerantz LLP announces that a class action lawsuit has been filed against Campbell Soup Company ("Campbell" or the "Company") (CPB) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, and index under 18-cv-15694, is on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased or otherwise, acquired Campbell securities between August 31, 2017 through May 17, 2018, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
NEW YORK, Nov. 14, 2018 -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a.
NEW YORK, NY / ACCESSWIRE / November 14, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Campbell Soup Company (CPB) from August 31, 2017 through May 17, 2018, inclusive (the "Class Period"). To join the Campbell class action, go to http://pawarlawgroup.com/cases/campbell-soup-company/ or call Vik Pawar, Esq. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
Investors have shunned slow and steady-moving packaged food stocks for fast-paced technology behemoths for most of 2018. In the first half of the year, adding portfolio holdings with eye-catching revenue growth proved a significantly more profitable venture than grappling with a downtrodden sector that has come under increased pressure from reduced established-brand loyalty from millennial customers, rising commodity costs and heightened competition from retailers' private brands. As investors bank some tech sector profits in the face of rising interest rates, slowing growth, peaking profits and a global trade war, the defensive consumer staples sector seems a likely beneficiary.
NEW YORK, NY / ACCESSWIRE / November 14, 2018 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Campbell Soup Company ("Campbell" or the "Company") (CPB) on behalf of shareholders who purchased or otherwise acquired Campbell securities between August 31, 2017 and May 17, 2018, (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
On November 13, Tyson Foods (TSN) reported mixed fourth-quarter results for the period ending on September 29. Tyson’s top line fell short of analysts’ estimate and declined 1.4% on a YoY (year-over-year) basis, which reflected lower average pricing. However, the adjusted earnings grew and beat the consensus estimate. The company lowered its 2019 sales outlook by $1 billion due to pricing pressure. Tyson’s adjusted earnings are expected to remain lower than its adjusted earnings in 2018. Tyson shares decreased 5.4% following its fourth-quarter results and soft sales and earnings guidance.
The 112-year-old food giant said it would put its cookies business (including Keebler, Famous Amos, Mother's and Murray brands), and its fruit snacks business on the block. It's a logical move for Kellogg, which says it will reinvest in e-commerce and healthier products as well as realign its sales staff as part of an operational restructuring.
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Campbell Soup Company (“Campbell” or “the Company”) (NYSE: CPB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between August 31, 2017 and May 17, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before November 27, 2018. We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge.
NEW YORK, Nov. 13, 2018 -- The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a.
Campbell (CPB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NEW YORK, Nov. 12, 2018 -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Chegg, Inc., Hasbro,.