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Campbell’s Co (NASDAQ:CPB) announced Thursday that its board of directors has elected Mary Alice Dorrance Malone, Jr. as a director. According to a statement included in a recent SEC filing, Ms. Malone, Jr. will serve an initial term ending at the company’s 2025 annual meeting of shareholders, after which she will remain in the role until a successor is elected and qualified.
Ms. Malone, Jr. has also been appointed to the Compensation and Organization Committee and the Finance and Corporate Development Committee, with both appointments effective as of Thursday. The company has maintained its dividend payments for 55 consecutive years, currently offering a 5% yield.
The filing states that Ms. Malone, Jr. will receive a pro-rated retainer as part of Campbell’s 2025 non-employee director compensation program. The company indicated there are no arrangements or understandings with any other person regarding her selection as a director, and no transactions requiring disclosure under Item 404(a) of Regulation S-K.
All information is based on a statement from Campbell’s Co included in a filing with the Securities and Exchange Commission.
In other recent news, Campbell’s Company reported net sales of $9.6 billion for fiscal 2024, spanning its Meals & Beverages and Snacks divisions. The company has also elected Mary Alice Dorrance Malone Jr. to its Board of Directors, bringing her extensive experience in the luxury fashion industry. Analysts have provided mixed evaluations of Campbell’s future prospects. TD Cowen lowered its price target to $29 due to anticipated tariff-related challenges affecting fiscal year 2026. Piper Sandler also reduced its price target to $35, citing similar tariff concerns and potential earnings per share reductions. Argus downgraded Campbell Soup from Buy to Hold, pointing to persistent volume challenges despite the company’s pricing strategies. However, Argus expressed optimism about Campbell’s Sovos acquisition, particularly the Rao’s brand. TD Cowen again lowered its price target to $33, highlighting the company’s struggle with pricing power and weak demand in its snacks business. These developments reflect the complexities Campbell’s faces in navigating current market conditions.
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