Campbell Soup Co. (NYSE: CPB) was among the U.S. large caps that bucked the bear market of 2022. With defensive names in favor, the soup and snacks maker was also one of few S&P 500 stocks that finished the year up at least 30%. But after reaching an intraday high of $57.78 shortly after Christmas, Campbell’s has retreated to around $50 . With investors clamoring for technology and consumer discretionary names this year, the market’s appetite for less risky staples has been less than hearty. For long-term investors, this is positive news for two reasons: 1) strong jobs data has the market re-considering the prospects for a more hawkish Fed and, therefore, the investment value of defensive companies like Campbell’s, and 2) the valuation on Campbell’s shares is looking mmm mmm good. How Did Campbell’s Soup Perform in 2022? As grocery store prices climbed higher, consumers were reluctant to shun Campbell’s brands in favor of cheaper alternatives. This helped drive 10% sales growth through the first three quarters of calendar 2022. The performance was capped off by 15% top-line growth in Q3, surprising Wall Street analysts and sending the stock to within $10 of its 2016 record high. During […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
