Wednesday, December 3, 2008

Money & Business

New Money by Katy Marquardt

Campbell's Soup: Lone Survivor of the S&P Sell-off

September 30, 2008 10:06 AM ET | Katy Marquardt | Permanent Link | Print

Market got you down? In times like these, you can't go wrong with a warm bowl of soup. And in this economy, it doesn't hurt that soup is cheap.

Perhaps that's why Campbell Soup Co. was the only member of the S&P 500 that escaped the sell-off Monday. "The one thing you can afford to eat when you're destitute is soup," says Tom Sowanick, chief investment strategist of Clearbrook Financial in Princeton, N.J. "Silly as that may sound, if you have no confidence in your banking system and no confidence in the financial markets, the only thing you can have confidence in is the ability to build a bunker."

Campbell's shares (symbol CPB) rose 0.3 percent, or 12 cents, on Monday, to close at $37.75. By no means is this stock shooting out the lights, but it's up 23 percent since mid-January and has been on a steady climb since July. The company—which is also responsible for Pepperidge Farm, Pace salsas, and V8—announced last week that it's increasing its quarterly dividend by 14 percent, to 25 cents a share.

Tags: stocks | stock market

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Reader Comments

Godiva

When did they sell Godiva?

They Sold Godiva

Campbell Soup Company sold Godiva off a few months ago...

due date

if the company increases the due dates on every soup can, to a 4 to 5 years consumers will stock up their shelves, and me will be the first to start looking on dates. thank you very much.

jorge l.

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Katy Marquardt, an associate editor at U.S.News & World Report, takes a contemporary look at happenings in the financial world and aims to help young investors get going with their portfolios--or just sound cool at cocktail parties. Have a question? E-mail Katy at newmoney@usnews.com

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