The Campbell's Company (CPB) Stock Price & How to Invest

The Campbell's Company renamed itself from Campbell Soup Company in November 2024, and the new name was meant to describe what the business had become. It runs two reportable segments. Meals & Beverages is the larger one at roughly ~$4.74B of sales over the first nine months of fiscal 2026, and it holds Campbell's condensed and ready-to-serve soup, Chunky, Swanson, Pace, Prego, Pacific Foods, V8 and Rao's, the premium Italian sauce brand that arrived with the ~$2.7B Sovos Brands purchase in 2024. Snacks contributed roughly ~$2.87B over the same nine months: Pepperidge Farm, Goldfish, Milano, Snyder's of Hanover, Lance, Cape Cod, Kettle Brand and Late July. Total fiscal 2025 net sales were about ~$10.25B on a 53-week year, and the company employed approximately ~13,700 people as of early August 2025. Mick Beekhuizen is CEO and Carrie Anderson is CFO.

The investment picture in August 2026 is a valuation that reflects several quarters of shrinking. Third-quarter fiscal 2026 results, reported on June 8 for the period ended May 3, showed net sales of about ~$2.37B, down ~4% reported and organic, with volume and mix down ~5% against price up ~1%. Adjusted EPS fell ~32% to about ~$0.50, while GAAP EPS rose to ~$0.41 from ~$0.22 because the prior-year quarter carried a ~$150M Snyder's of Hanover trademark impairment. Management reaffirmed full-year guidance of ~2% to ~1% organic sales decline, adjusted EBIT down ~20% to ~17%, and adjusted EPS of ~$2.15 to ~$2.25. At a share price near ~$23 and a market capitalization around ~$7.0B, the stock trades near ~11.5x trailing GAAP earnings of about ~$2.04 per share, yields roughly ~6.7%, and carries net debt of about ~$6.6B. The question being priced is whether this year's tariff and inflation hit to margins unwinds, or whether the volume declines in snacks turn a cyclical earnings dip into a permanently smaller company.

The largest risk is that volume decline is structural. Sales have now fallen roughly ~4% in each of the last three reported quarters with price carrying ~1% to ~2%, which means the company is selling meaningfully fewer units and using price to soften the arithmetic, a lever that eventually meets private-label competition. Debt compounds the problem: about ~$7.0B of total borrowings against roughly ~$4.0B of book equity, itself resting on ~$5.0B of goodwill and ~$4.3B of other intangibles, leaves limited room if brand values are written down again after the ~$176M of trademark impairments taken in fiscal 2025. The dividend near ~$1.56 per share costs roughly ~$465M a year against nine-month operating cash flow of ~$839M and capex of ~$297M, so it is covered today but with less cushion than the yield alone suggests. Separately, the U.S. Department of Justice and private environmental groups filed Clean Water Act lawsuits in March 2024 in the Northern District of Ohio over discharges from the Napoleon, Ohio wastewater facility; the company says it is in settlement discussions and does not expect a material effect, and there is no securities-fraud class action on file.

17 analysts publish price targets on CPB, averaging $22.00 against a $23.47 price as of August 2026, or -6.3%. The published targets run from $14.00 to $56.00, a wide spread, and the ratings split 1 buy, 13 hold, 6 sell. Over the last six months there have been 4 raises and 7 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full CPB forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on The Campbell's Company. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Meals & Beverages is doing the load-bearing work. The soup, broth and sauce half generated about ~$762M of segment operating earnings on ~$4.74B of nine-month sales in fiscal 2026, a margin near ~16%, versus roughly ~10% for Snacks. The most optimistic published target, $56.00, assumes this works close to its best case.

The case against. The largest risk is that volume decline is structural. The most pessimistic target, $14.00, is roughly what CPB is worth if this bites instead.

Read the full bull and bear case on CPB, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see The Campbell's Company's investor relations page or your broker.

• Revenue (TTM): ~$9.9B
• Q3 FY2026 net sales (quarter ended May 3, 2026): ~$2.37B, down ~4% reported and organic
• FY2026 adjusted EPS guidance: ~$2.15 to ~$2.25, down ~26% to ~23%
• Trailing P/E: ~11.5x on ~$2.04 GAAP EPS
• Net debt: ~$6.6B (~$7.0B total debt less ~$402M cash)
• Nine-month operating cash flow: ~$839M, capex ~$297M

The trailing multiple near ~11.5x sits well below the large-cap packaged-food average, and the forward multiple near ~12.6x is higher precisely because guided fiscal 2026 earnings are lower than the trailing figure. That inversion is the whole valuation argument in one number: the market is paying a discount for a business whose earnings are still falling, so the multiple only looks cheap if fiscal 2026 marks the bottom. The stock has traded between roughly ~$19.56 and ~$34.18 over the past year, and full-year fiscal 2026 results are the next scheduled data point.

Other names that sit close to CPB: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get CPB exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so CPB sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where CPB fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

A cheap-looking, high-yielding food company whose soup-and-sauce half is holding together while the snacks half and a tariff bill are doing the damage, which makes the central question whether fiscal 2026 is the trough or the new run rate.

Whether CPB is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CPB a buy or a sell?, and where the stock could go from here in the CPB stock forecast.

For income investors, whether CPB pays a dividend and how the payout looks is covered in does CPB pay a dividend? And to weigh CPB against a peer, read the full side-by-side comparisons: CPB vs KHC and CPB vs GIS.