Campbell’s snížila dividendu o 36 % na 0,25 USD na akcii, což je první škrt od roku 2001. Zároveň očekává ve fiskálním roce 2027 pokles tržeb o 2 % až 4 % a zisku až o 24 %.
Key Takeaways Campbell's is still experiencing a tough external environment and higher inflation. Campbell's reset its dividend by 36%. It is Campbell's first dividend cut since 2001. Shares of Campbell's are down 22.8% year-to-date and near 5-year lows. The Campbell’s Company (CPB - Free Report) is struggling with higher inflation and a volatile external environment which is impacting its snack division. This Zacks Rank #5 (Strong Sell) recently missed on earnings and cut its dividend for the first time since 2001.
The Campbell’s Company is a legendary food company which has been headquartered in Camden, N.J. since 1869. It has two divisions: Meals & Beverages and Snacks. The company has 16 brands including Campbell’s, Cape Cod, Chunky, Goldfish, Kettle Brand, Lance, Late July, Pace, Pacific Foods, Pepperidge Farm, Prego, Rao’s, Snack Factory, Snyder’s of Hanover, Swanson and V8.
Campbell’s Missed on Q4 Fiscal 2026 EarningsOn Sep 3, 2026, Campbell’s reported its fourth quarter fiscal 2026 earnings results and missed on the Zacks Consensus Estimate by a penny. Earnings were $0.39 versus the consensus of $0.40.
It has missed on earnings two out of the last four quarters.
Net sales fell 8% to $2.1 billion and decreased 1% on an organic basis with Snacks being the weaker division.
Adjusted gross profit margin fell 190 basis points to 28.6%, driven primarily by cost inflation and other supply chain costs inclusive of the impact from tariffs, but partially offset by supply chain productivity improvements.
“We enter fiscal 2027 with leading brands including Campbell's, Rao's, Goldfish and Pepperidge Farm, a resilient Meals & Beverages division benefiting from durable at-home cooking trends, and actions underway to strengthen Snacks,” said Mick Beekhuizen, CEO.
The First Cut to Campbell’s Dividend Since 2001In order to accelerate the path to reducing debt on the company’s balance sheet, Campbell’s is “resetting” its dividend to a quarterly dividend of $0.25 per share, or $1.00 on an annualized basis, down from the prior quarter’s dividend of $0.39, which was $1.56 on an annualized basis. That’s a 36% cut.
It’s the first cut to the dividend since 2001.
That brings the yield down to 4.7% from 7.3%. It’s still generous.
Campbell’s Guides Fiscal 2027 Below the Zacks ConsensusCampbell’s expects a volatile external environment and another year of elevated inflation in Fiscal 2027 along with several longer-term benefits that are expected to build through the year to support the company’s margins.
It guided Fiscal 2027 net sales to fall in the range of 4% to 2% from Fiscal 2026.
Earnings are expected to decline as much as 24% in Fiscal 2027 with a range of $1.65 to $1.80.
This guidance range was below the Zacks Consensus of $1.97.
Not surprisingly, the analysts have had to cut their Fiscal 2027 estimates. Four estimates were cut in the last week, which pushed the Zacks Consensus down to $1.91 from $1.97.
That’s still above Campbell’s guidance range.
But the Most Accurate Estimate, which is the most recent, came in at just $1.75, which is within the company’s guidance range of $1.65 to $1.80.
The earnings are going the wrong way. Here’s what it looks like on the 5-year price and consensus chart.
Image Source: Zacks Investment Research
Is the Bottom Already In?Campbell’s shares lost about 7% on the earnings miss and the announcement of the dividend reset.
Shares have traded near 5-year lows this year and are now down 22.8% year-to-date.
But if you look at the 3-month chart, you can see the shares really aren’t making new lows, even with the latest news.
Image Source: Zacks Investment Research
Could the bottom be in?
Campbell’s is cheap, with a forward price-to-earnings (P/E) of 11.2. A P/E ratio under 15 usually indicates value.
But with earnings expected to slide as much as 24% in Fiscal 2027, it’s more of a value trap than a true value.
For investors interested in food companies like Campbell’s, with all the uncertainty surrounding the consumer and inflation, waiting on the sidelines until the earnings estimates are revised higher is a good strategy.
Campbell’s propustila 13 % placených zaměstnanců a zavřela dvě snackové továrny v rámci obratu směrem k návratu k ziskovosti. Firma čeká úspory asi 500 milionů USD do fiskálního roku 2030.
Campbell's said it has cut 13% of its salaried workforce and closed two snack plants in an effort to improve its operations and return to profitability.
"Make no mistake, our results remain unacceptable," CEO Mick Beekhuizen said. "But instead of waiting for the environment to improve around us, we are addressing reality head-on."
The company has 4,300 salaried workers, according to The Wall Street Journal. It had approximately 13,700 full-time and part-time employees as of August 2025, according to a filing with the Securities and Exchange Commission.
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Cans of Campbell's chicken noodle soup for sale are displayed at a store on July 22, 2026, in Washington, D.C. (Kevin Carter/Getty Images)
Consumer goods companies have increasingly faced resistance from budget-conscious shoppers, particularly lower-income households that have gravitated toward cheaper, private-label and value brands.
Despite this, Campbell's has raised prices in recent years to protect its margins against rising costs of raw materials, logistics and investments behind soup and sauce launches and holiday merchandising programs.
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The company has implemented average price increases of 4% to 5% across roughly 60% of its portfolio, with benefits expected to begin flowing through in the second quarter, even as sales take a hit, CFO Todd Cunfer said on a call with analysts.
The company said it plans to generate about $500 million in cost savings by fiscal 2030.
Campbell's soup at a supermarket in Hercules, Calif., Dec. 8, 2025 (David Paul Morris/Bloomberg via Getty Images / Getty Images)
"With this program, we are focused on increasing speed and accountability and improving our margins and cash flow," Beekhuizen said.
Campbell's expects fiscal 2027 net sales to decline 2% to 4%, compared with analysts' expectations for a 0.8% drop, according to data compiled by LSEG. It forecast adjusted earnings per share of $1.65 to $1.80, below estimates of $1.86.
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Net sales fell 8% to $2.14 billion in the fourth quarter, slightly missing estimates of $2.15 billion, while adjusted earnings per share of 39 cents were in line with expectations.
Ticker Security Last Change Change % CPB THE CAMPBELL'S CO. 21.38 -0.74 -3.37% Volumes in the company's snacks segment fell 6%, while prices rose 1%. For its meals and beverages segment, where prices remained the same, volumes rose 3%.
"Our priorities are clear: return Campbell’s to a sustainable, long-term value creation model, reduce financial risk and maintain our investment-grade credit rating," Beekhuizen added.
The Campbell's Company (CPB -6.96%), a branded packaged foods provider, closed at $22.13, down 6.96%. Thursday's sell-off followed weaker fiscal fourth-quarter profitability, a sales miss, and a dividend reduction.
Trading volume reached 37.4 million shares, coming in about 343% above its three-month average of 8.4 million shares.
How the markets moved todayThe S&P 500 (^GSPC +1.06%) rose 1.07% to 7,748, and the Nasdaq Composite (^IXIC +1.40%) gained 1.40% to 26,584. Among packaged-food rivals, Kraft Heinz (KHC -3.20%) closed at $25.42, down 3.20%, while General Mills (GIS -3.25%) ended at $39.26, down 3.25%, underscoring pressure across packaged foods and meats, as well as branded shelf-stable foods and beverages.
What this means for investorsIncome investors already owning the stock will be disappointed with what they heard from Campbell's today. A 36% dividend cut was announced as part of a plan for the food company to shore up its balance sheet amid inflationary pressures and dropping sales. The company is also implementing a new $500 million cost-savings plan through 2030.
The new $0.25 quarterly dividend still provides a relatively high annual yield of 4.5%, making shares a potential buy for those seeking income. That doesn't help existing shareholders, though, who now face a lower dividend payment on top of a 20% year-to-date decline in the shares.
If the company's turnaround plan is successful, though, new money in the stock with many popular brands could prove to beat the market over the long term.
It would probably be prudent to give it some time and watch the company implement cost-cutting measures first.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends Campbell's and Kraft Heinz. The Motley Fool has a disclosure policy.
The Campbell’s Company (NASDAQ:CPB) will release its fourth quarter earnings report before the opening bell on Thursday, Sept. 3.
Analysts expect the Camden, New Jersey-based company to report quarterly earnings of 39 cents per share, down from 62 cents per share in the year-ago period. The consensus estimate for Campbell’s quarterly revenue is $2.14 billion. It reported $2.32 billion last year, according to Benzinga Pro.
On June 8, Campbell’s posted mixed results for the third quarter.
Shares of Campbell’s rose 0.3% to close at $23.78 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
RBC Capital analyst Nik Modi maintained a Sector Perform rating with a price target of $21 on Aug. 31, 2026. This analyst has an accuracy rate of 52%. Evercore ISI Group analyst David Palmer maintained an In-Line rating and cut the price target from $23 to $22 on Aug. 31, 2026. This analyst has an accuracy rate of 65%. UBS analyst Peter Grom maintained a Sell rating and raised the price target from $17 to $18 on Aug. 20, 2026. This analyst has an accuracy rate of 59%. TD Cowen analyst Robert Moskow maintained a Hold rating and increased the price target from $20 to $22 on Aug. 19, 2026. This analyst has an accuracy rate of 64%. JP Morgan analyst Thomas Palmer maintained a Neutral rating and increased the price target from $20 to $22 on Aug. 18, 2026. This analyst has an accuracy rate of 51%. Trending
Considering buying CPB stock? Here’s what analysts think:
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Campbell's (CPB - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 3. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis maker of canned soup, Pepperidge Farm cookies and V8 juice is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of -35.5%.
Revenues are expected to be $2.15 billion, down 7.3% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.37% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Campbell?For Campbell, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.22%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Campbell will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Campbell would post earnings of $0.48 per share when it actually produced earnings of $0.50, delivering a surprise of +4.17%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Campbell doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Campbell’s zrychluje inovace v segmentu Meals & Beverages, v létě uvede Condensed Sauces a rozšiřuje produktové portfolio polévek. Produkty zaměřené na vaření vzrostly za dosavadní fiskální rok o 3,4 % a ve 3. čtvrtletí fiskálního roku 2026 o 1,5 %.
Key Takeaways Campbell's is expanding Meals & Beverages innovation with Condensed Sauces and new soup ideas.Cooking-focused soup products grew 3.4% fiscal year to date and 1.5% in fiscal Q3 2026.Rao's Q3 consumption rose 15%, while Goldfish and Pepperidge Farm added targeted snack launches. The Campbell's Company (CPB - Free Report) is putting greater emphasis on product innovation across key parts of its portfolio. The push is especially visible in Meals & Beverages, where upcoming launches are tied to at-home cooking and flavor exploration. The company is also increasing investment in consumer insights to support elevated brand investment and a bolder pipeline of innovation.
One of the clearest upcoming launches is Campbell’s Condensed Sauces, scheduled for the summer. The product is designed to tap consumers’ interest in cooking at home and experimenting with new flavors. Beyond this launch, Campbell’s has outlined a broader soup innovation pipeline focused on bringing newness, health benefits and additional eating occasions to the category.
The existing cooking-oriented portfolio provides a base for this strategy. Products used in scratch or semi-scratch cooking across Campbell’s, Swanson and Pacific represent roughly half of the U.S. retail soup portfolio. This group grew approximately 3.4% fiscal year to date and 1.5% in the third quarter of fiscal 2026.
Innovation is also visible across premium brands. Rao’s total brand consumption increased 15% in the fiscal third quarter, while sauce rose 13%, benefiting from fundamentals that included innovation from its Creamy line. Products outside pasta sauce consumption grew 22% in the fiscal second quarter, while Campbell’s plans to continue investing in Rao’s pasta, soup and frozen offerings. Pacific and Rao’s ready-to-serve soups also posted consumption growth of 7% and 8%, respectively.
In Snacks, Goldfish recently launched a Pokemon collaboration aimed at families with kids. Pepperidge Farm introduced limited-edition Maggie’s Apple Pie cookies, while Chessmen benefited from innovation and merchandising support. Together, these launches reflect Campbell’s focus on using targeted product innovation to create fresh consumer interest and support established snack brands.
Campbell's Zacks Rank & Share Price PerformanceShares of this Zacks Rank #3 (Hold) company have gained 2.6% over the past month, underperforming the industry and the S&P 500’s growth of 5.4% and 4.1%, respectively. However, CPB outperformed the broader Consumer Staples sector’s growth of 0.3% over the same period.
CPB Stock's Past Month Performance
Image Source: Zacks Investment Research
Is Campbell's a Value Play Stock?Campbell's currently trades at a forward 12-month P/E ratio of 11.28, which is lower than the industry average of 15.23 and below the sector average of 17.13. This valuation positions the stock at a modest discount relative to both its direct peers and the broader consumer staples sector.
CPB P/E Ratio (Forward 12 Months)
Image Source: Zacks Investment Research
Stocks to ConsiderDarling Ingredients Inc. (DAR - Free Report) develops, produces and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America and internationally. At present, Darling Ingredients sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Darling Ingredients’ current fiscal-year sales and earnings implies growth of 12.8% and 926.5%, respectively, from the year-ago figures. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.
The Chefs' Warehouse, Inc. (CHEF - Free Report) distributes specialty food and center-of-the-plate products in the United States, the Middle East and Canada. At present, CHEF flaunts a Zacks Rank #1. Chefs' Warehouse delivered a trailing four-quarter earnings surprise of 30.4%, on average.
The consensus estimate for Chefs' Warehouse’s current fiscal-year sales and earnings implies growth of 10.6% and 24.7%, respectively, from the year-ago reported figures.
US Foods Holding Corp. (USFD - Free Report) engages in the marketing, sale and distribution of fresh, frozen and dry food and non-food products to foodservice customers in the United States. USFD currently carries a Zacks Rank #2 (Buy). US Foods Holding delivered a trailing four-quarter earnings surprise of 1.5%, on average.
The Zacks Consensus Estimate for US Foods Holding’s current fiscal-year sales and earnings implies growth of 5.3% and 16.3%, respectively, from the year-ago figures.
A month has gone by since the last earnings report for Campbell's (CPB - Free Report) . Shares have added about 3.5% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Campbell due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Campbell's Q3 Earnings Surpass Estimates Despite Sales WeaknessThe Campbell's Company reported third-quarter fiscal 2026 results, wherein the bottom line beat the Zacks Consensus Estimate, while sales missed expectations. Both earnings and revenues declined year over year, reflecting continued top-line softness, inflationary pressures and tariff-related costs.
Adjusted earnings per share (EPS) were 50 cents, down 32% year over year due to lower adjusted earnings before interest and taxes (EBIT). However, the bottom line surpassed the Zacks Consensus Estimate of 48 cents.Net sales of $2,366 million decreased 4% year over year and missed the Zacks Consensus Estimate of $2,387 million. Organic net sales also declined 4%, primarily due to lower volume and unfavorable product mix, partially offset by positive net price realization. The quarter included a modest headwind from the noosa divestiture.
Adjusted gross profit declined 12% to $656 million. Adjusted gross margin contracted 240 basis points (bps) to 27.7%, mainly due to cost inflation, tariffs and other supply-chain costs. These pressures were partly offset by supply-chain productivity improvements, cost-savings initiatives and favorable pricing. Tariffs alone represented a gross margin headwind of about 310 bps during the quarter. Adjusted marketing and selling expenses increased 2% to $211 million, reflecting higher brand-building investments and marketing spending. Adjusted administrative expenses decreased 1% to $149 million due to savings initiatives and lower incentive compensation, partly offset by higher general administrative costs. Adjusted EBIT declined 24% to $274 million, primarily due to lower adjusted gross profit and higher marketing investments. Adjusted EBIT margin contracted 300 bps to 11.6%.
Decoding CPB’s Segmental PerformanceMeals & Beverages: Net sales decreased 4% to $1,426 million. Organic net sales also declined 4% due to an unfavorable volume/mix of 5%, partly offset by 1% favorable net price realization. The segment faced a difficult comparison against strong soup demand in the prior year and a roughly 1% headwind related to shipment timing associated with the Sovos Brands ERP implementation and prior winter-storm delays. U.S. soup sales plunged 8%, though the company continued to benefit from resilient at-home cooking trends and strong performances from Rao’s, Swanson and Pacific Foods. Segment operating earnings fell 16% to $213 million due to inflation, tariffs and lower volume.
Snacks: Net sales declined 4% to $940 million, with organic net sales also down 4%. Volume/mix reduced sales by 6%, partially offset by 2% favorable price realization. Weakness stemmed primarily from salty snacks, crackers, fresh bakery products, third-party partner brands and contract manufacturing sales. Segment operating earnings decreased 32% to $95 million due to elevated inflation, tariffs, supply-chain costs and lower volumes, partly offset by productivity gains, pricing actions and cost savings. Management noted encouraging signs in Snacks, particularly in Goldfish, where core products remained stable for a second consecutive quarter, and in Pepperidge Farm fresh bakery, where service levels and in-stock performance improved. The company has also begun implementing a simplification strategy across its salty snacks portfolio to strengthen performance and profitability.
CPB: Strategic Highlights and Brand PerformanceCampbell’s continued to benefit from durable at-home cooking trends, which supported growth in key cooking-oriented brands. Rao’s remained a standout performer, delivering 15% consumption growth during the quarter, with pasta sauce consumption increasing 13%. Rao’s generated approximately 75% of the total Italian sauce category growth and maintained its leadership position in dollar share across all regions. Subsequent to the end of the quarter, Campbell’s completed its acquisition of a 49% stake in La Regina on May 4, 2026, strengthening its commitment to the Rao’s platform and long-term growth strategy. The company also announced that all leadership brands have successfully transitioned to natural colors ahead of schedule, with the remaining regional Snacks brands expected to complete the transition by July 2026.
CPB’s Other Financial MetricsAt the end of the third quarter, Campbell’s had cash and cash equivalents of $402 million and total debt of $7,010 million. Cash flow from operations for the first nine months of fiscal 2026 totaled $839 million compared with $872 million in the prior-year period. Capital expenditures were $297 million during the period. The company returned $380 million to shareholders year to date, primarily through dividends, while share repurchases totaled $26 million. Campbell’s delivered approximately $20 million in savings during the quarter, bringing cumulative savings to $200 million toward its fiscal 2028 target of $375 million. Management expects these savings to help offset tariff and inflationary pressures while funding investments in growth initiatives.
CPB Reaffirms Fiscal 2026 GuidanceCampbell’s reaffirmed its previously issued fiscal 2026 outlook. The company continues to expect organic net sales to decline 1-2% year over year. Adjusted EBIT is projected to decrease 17-20%, while adjusted EPS is expected in the range of $2.15-$2.25, representing a decline of 23-26% from the adjusted fiscal 2025 base. Management expects low-single-digit core inflation excluding tariffs, productivity benefits equivalent to roughly 5% of cost of products sold, and approximately $70 million in enterprise cost savings for fiscal 2026. The company also anticipates adjusted net interest expense of $320-$325 million and capital expenditures of roughly $370 million. While management acknowledged ongoing consumer and cost pressures, it expressed confidence in the long-term strength of Campbell’s portfolio, the resilience of at-home cooking trends and the progress being made to improve execution and profitability across the Snacks business.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.
The consensus estimate has shifted -8.36% due to these changes.
VGM ScoresAt this time, Campbell has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Campbell has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
