Consumer staples have been hit hard recently and I can't imagine this one continuing to go lower. Sure, health is all the craze but when times are tough consumers go for the cheap stuff. Plus, eating healthy sucks. Jump on this dividend beheamoth before it's too late.
Play:
Buying the $1.25, 1/12/2024 call - SP = $41
Also, sell the .60 CSP and collect premium. Expiry date of 12/8/2023.
I'm okay holding this and dollar cost averaging if it dives after earnings. Dividend record date is 01/04/2024.
Price target now $48 from JP Morgan report . with the small decline in sales and earnings looks to sustain its growth into the next annual
mattlbrown
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The daily close on Friday does not look good.
DrConservative
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@mattlbrown, See if drops below $41.50. I don't think it will. I closed my position but may get back in on any dips as long as $41.50 is support.
mattlbrown
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@DrConservative looking pretty good. You think we can catch 50-52 by june
mattlbrown
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@DrConservative You think we can catch 50-52 buy June the fall back down?
DrConservative
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@mattlbrown, if it can break 45ish resistance, yes. If not, I think it trades between $41-$45.00. Excellent candidate for the Wheel Strategy if it can't break $45.00
mattlbrown
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Thanks for your feedback. They bought it up today for sure so I'm going to hold.
daswagking
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Agree with your sentiment. Campbell's stock might just make us 'souper' rich!