On May 30, 2023, Flagstone Foods acquired the Emerald Nuts business from Campbell Soup Company. The terms of the sale were not disclosed to the public. In the fiscal year 2022, Emerald Nuts generated net sales of $66 million, and for the nine months ending on April 30, 2023, it generated $46 million in net sales. Although the sale is expected to be dilutive to earnings per share by approximately $0.01 in fiscal 2024, Campbell Soup Company does not anticipate a material impact on its financial results for fiscal 2023. Chris Foley, the Executive Vice President and President of Campbell Snacks, stated that the sale of the Emerald Nuts business is part of their ongoing strategic process to focus on driving accelerated growth across their Snacks division and power brands. Campbell Soup Company acquired the Emerald Nuts business as part of the 2018 Snyder’s-Lance, Inc. acquisition. As of the last check on Tuesday, CPB shares were trading lower by 1.18% at $50.90.
Conagra Brands Inc (CPB) Stock Update: May 30, 2023
On May 30, 2023, Conagra Brands Inc (CPB) stock opened at $51.07 and fluctuated within a range of $50.56 to $51.35. The volume for the day was 1,165,436, which is lower than the average volume of 2,234,138 over the past three months. CPB has a market cap of $15.4 billion and is a part of the Consumer Non-Durables sector, specifically the Food: Major Diversified industry. The company’s earnings growth last year was -23.95%, but this year it has increased by 5.78%. CPB is expected to have an earnings growth of 5.13% over the next five years. CPB’s stock performance on May 30, 2023, was in line with the broader market trend. The next reporting date for CPB is June 7, 2023, and the EPS forecast for this quarter is $0.65. The net profit margin for CPB is 8.84%.
Campbell Soup Co Stock Analysis: Median Target Price and Hold Rating by Investment Analysts
On May 30, 2023, Campbell Soup Co (CPB) had a median target price of $53.00, according to 15 analysts who offered 12-month price forecasts. The high estimate was $61.00, while the low estimate was $41.00. The median estimate represented a +4.83% increase from the last price of $50.56. The current consensus among 18 polled investment analysts was to hold stock in Campbell Soup Co.
It is worth noting that Campbell Soup Co was scheduled to report its current quarter earnings on June 7, 2023.
In terms of CPB’s recent performance, the stock had experienced some volatility in the past few months. However, the stock had shown some signs of recovery in May 2023, with its price hovering around the $50.00 mark.
Looking ahead, CPB’s performance could be influenced by various factors, including the company’s financial results, its ability to adapt to changing consumer preferences, and the overall state of the economy. Investors should keep a close eye on CPB’s quarterly earnings report, as well as any updates or announcements from the company’s management team.
Overall, CPB’s stock performance on May 30, 2023, was relatively stable, with a median target price of $53.00 and a hold rating from investment analysts. However, investors should continue to monitor the stock’s performance and stay informed about any developments that could impact its future growth potential.