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Investing.com - Campbell Soup (NASDAQ:CPB) received a reiterated Neutral rating from DA Davidson following Tuesday’s announcement that Freshpet (NASDAQ:FRPT) CFO Todd Cunfer will join as EVP and CFO. According to InvestingPro data, Freshpet has maintained strong revenue growth of 19.3% over the last twelve months, despite its stock declining over 61% year-to-date.
The firm noted Cunfer’s strong track record in profit improvement, balance sheet management, and forecasting expertise, despite recent challenges. InvestingPro analysis shows Freshpet maintains a healthy financial position with a current ratio of 4.81, indicating strong liquidity management under Cunfer’s leadership.
DA Davidson highlighted Cunfer’s previous accomplishments, including overseeing Simply Good Foods’ acquisition of Quest Nutrition—described as "one of the best transactions we’ve studied in Food over the past two decades"—and guiding Freshpet toward profitability and free cash flow generation.
The appointment may spark speculation about a potential earnings reset at Campbell Soup , given existing investor concerns about soup elasticities, a projected second-half 2026 inflection in Snacking, and Rao’s brand reaching maturity.
DA Davidson observed that with Campbell Soup stock trading at a "decade plus trough" and EV/EBITDA currently about two times below its ten-year average, "a dose of pragmatism to the intermediate to long term outlook could be well received."
In other recent news, Freshpet has announced the departure of Chief Financial Officer Todd Cunfer, who will be joining Campbell Soup Company. This change is set to take effect on October 20, with Ivan Garcia, the current Vice President of Finance, stepping in as interim CFO starting October 17. Freshpet is actively searching for a permanent replacement for Cunfer. Meanwhile, DA Davidson has reiterated its Buy rating for Freshpet, highlighting the company’s distribution growth and positive business outlook. In contrast, Benchmark has adjusted its price target for Freshpet to $80, down from $95, citing weaker volume growth trends and challenges in attracting new pet households. Despite these developments, Freshpet has reaffirmed its full-year 2025 guidance. The company is navigating these changes while maintaining a focus on its financial strategies and market opportunities.
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