Campbell Soup Co. plans to move its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market.

After the transfer occurs at market close Aug. 16, the Camden-based soup and snacks giant will retain the “CPB” ticker symbol. It will begin trading four days later on Nasdaq.

In an Aug. 1 press release announcing the change, Campbell said the move will provide the company “with Nasdaq index inclusion opportunities and certain cost savings.”

A spokesperson for Campbell declined to provide more information about the decision.

In recent years, a number of companies have opted to switch their listing from the NYSE to Nasdaq partly because it has lower fees, somewhat less stringent reporting requirements and global visibility, Investopedia noted. 

Consumer packaged goods companies that have switched include Kraft Heinz, PepsiCo and Keurig Dr. Pepper. Nasdaq is already home to big names like Mondelez International, Monster Beverages and Hain Celestial.

Campbell went public on the NYSE in 1954.

As of Aug. 2, CPB is trading at $47.89 per share, which is $1.68 higher than the same day a year ago.

Campbell also scheduled its Fiscal 2025 Investor Day for Sept. 10 at the Nasdaq MarketSite in New York. During the event, the company’s leadership will discuss long-term strategy and financial outlook. In-person attendance is by invitation only. A live webcast will be available to view here.

A look at Q3

For the third quarter ending April 28, the company had net earnings of $133 million. That was down 17% from the previous year’s third quarter. Net sales were up 6% from $2.23 billion to $2.37 billion, which Campbell said was driven by the Sovos Brands acquisition completed in March.

In meals and beverages, net sales grew 15% to $1.27 billion, with gains coming from Campbell’s pasta and Swanson canned poultry.

Net sales in snacks fell to $1.10 billion from $1.12 billion in the same period a year ago. The company reported growth from cookies and crackers, primarily salty snacks like Pepperidge Farm Goldfish brand crackers. 

Over the first nine months of the fiscal year, Campbell companywide had net earnings of $570 million, a 17% decrease. Net sales rose 1% to $7.34 billion.

Campbell President and CEO Mark Clouse described the third quarter as “solid” with “sequential volume improvement, stable organic net sales, double-digit adjusted EBIT and adjusted EPS growth.”

He went on to say Campbell is excited about the integration of Sovos and its brands. Those banners include premium Italian sauce brand Rao’s, Michael Angelo’s frozen entrees and Noosa yogurt.

Clouse said the $2.7 billion acquisition is “already is bringing significant incremental growth to our company as we continue to navigate the pace of consumer recovery.”