Stock Market Today, Sept. 3: Campbell's Stock Slumps on Weaker Profit and Sales Miss
On Sept. 3, 2026, the packaged-food maker cut its dividend 36% and outlined a $500 million cost-savings plan to offset margin pressure.
Overview
The Campbell's Company (NASDAQ:CPB), 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.
The S&P 500 (SNPINDEX:^GSPC) rose 1.07% to 7,748, and the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.40% to 26,584. Among packaged-food rivals, Kraft Heinz (NASDAQ:KHC) closed at $25.42, down 3.20%, while General Mills (NYSE:GIS) ended at $39.26, down 3.25%, underscoring pressure across packaged foods and meats, as well as branded shelf-stable foods and beverages.
Details
Income 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.
Source
Originally published at www.fool.com.