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Monday afternoon, Campbell Soup (CPB) announced that it would continue to cut sodium in its SpaghettiOs canned pastas by as much as 35%, depending on the variety.
The sodium cut will have Campbell's ringed pasta offering a third less sodium than other canned pastas. This reduction is the second for SpaghettiOs in the past two years, which brings the food offering in line with government criteria for healthy main dishes. A one-cup serving of SpaghettiOs now has 600mg of sodium or less while providing the equivalent of a full serving of vegetables.
Good news for health-conscience parents, as we know that the red-and-white SpaghettiOs can is a staple of many parents across America. While some may scoff, it is comforting to know that Campbell is at least trying to offer healthy choices for parents having to make a meal in a pinch. Parents in the know now have a healthier alternative for their children, and it could translate over to the company's bottom line.
Technically, Campbell is in the midst of a solid calendar year, thanks to the support of its 10- and 20-week moving averages. The equity has hit a bit of a roadblock in the form of the $35 level, but there are reasons to believe the stock could easily clear this hurdle. While CPB's 10- and 20-week moving averages are ascending into the area, it is CPB's monthly trendlines that give us an indication of a potential continued run. CPB's 10-month moving average is in the midst of a bullish cross of its 20-month counterpart. If this technical formation comes to fruition, it could signal a further rally. After the $35 level, the next foreseeable resistance is in place in the $39 to $40 region. CPB may be able to get your portfolio somewhat healthy.
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