Campbell’s Share Price Slide Puts the Buffett Test to Work

Campbell Soup Company priced a $300 million offering of 8.500% fixed-to-fixed reset junior subordinated notes due 2057. The notes were priced on October 1, 2026, and issued on October 5, 2026, under the company's shelf registration on Form S-3. The offering was managed by a syndicate led by several major banks, with U.S. Bank Trust Company as trustee.

CAMPBELL'S Co (CPB) filed an SEC Form 8-K — Other Events. Item 8.01 Other Information. On October 1, 2026, The Campbell’s Company (“Campbell’s” or the “Company”) priced an offering of $300,000,000 aggregate principal amount of 8.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due April 5, 2057 (the “Notes”). The Notes were offe

WPP announced Jon Cook, CEO of VML and WPP Creative, will depart in March 2027. Eric Campbell, current North America CEO, will succeed him. Cook led VML's growth and the 2024 merger of VMLY&R and Wunderman Thompson. WPP CEO Cindy Rose praised Cook's contributions and Campbell's leadership.

Campbell Soup Co. (CPB) announced a $0.25 per share dividend, payable Nov. 2, 2026, with an ex-dividend date of Oct. 1, 2026. The company has increased dividends annually since 2013, with a 12-month trailing yield of 8.04% and a forward yield of 5.01%. However, its payout ratio of 0.78 and recent earnings decline raise concerns about dividend sustainability.

Moody's downgraded Campbell Soup's (CPB) rating to Baa3 from Baa2, citing weak earnings, high leverage, and expectations of further declines in revenue and operating profit. The company's leverage increased to 4.9x and is expected to remain elevated. Moody's also noted Campbell's acquisition of a stake in La Regina and elevated cost inflation as challenges. The negative outlook reflects risks to an earnings turnaround and weak credit metrics.

Consumers Energy's J.H. Campbell coal plant, set to close in 2025, was kept running by federal orders citing grid reliability, costing $1M/day. Michigan officials and groups challenged the DOE's actions, with the court ultimately allowing the plant's closure. The plant's operation has been a point of contention between local, state, and federal authorities.