William Blair initiates coverage of CPB with a Market Perform rating after the company reports $0.50 EPS, $0.02 above consensus.
The Campbell’s Company (NASDAQ:CPB) reported third-quarter earnings per share of $0.50, surpassing consensus estimates by $0.02. Organic sales declined 4% during the quarter, with both Meals & Beverages and Snacks segments posting identical drops.
William Blair began coverage of CPB on June 23 with a Market Perform rating, citing the company’s strong market position and growth strategy. Analyst David Shakno noted Campbell’s leading brands and productivity plan should support consistent top- and bottom-line growth. Stifel reaffirmed its Hold rating and $20 price target post-earnings.
The company, formerly Campbell Soup Company, operates in two divisions: Snacks and Meals & Beverages, with a portfolio of approximately 16 brands. Despite the earnings beat, organic sales performance reflects ongoing challenges in the food and beverage sector.