12 Undervalued Defensive Stocks for 2026

7. The Campbell’s Company (NASDAQ:CPB)

The Campbell’s Company (NASDAQ:CPB) is one of the best undervalued defensive stocks for 2026. On March 13, UBS cut the price target on The Campbell’s Company (NASDAQ:CPB) to $20 from $24 while maintaining a Sell rating on the shares. The rating update came after The Campbell’s Company (NASDAQ:CPB) reported its fiscal Q2 2026 financial results on March 11, reporting that net sales decreased 5% to $2.6 billion and decreased 3% on an organic basis. In addition, Earnings Before Interest and Taxes (EBIT) dropped to $273 million, while adjusted EBIT decreased 24% to $282 million.

The Campbell’s Company (NASDAQ:CPB) also reported that Earnings Per Share (EPS) decreased to $0.48, and adjusted EPS decreased 31% to $0.51. In addition, fiscal year-to-date cash flow from operations was $740 million, and the company returned $263 million to shareholders, including $237 million in dividends. Management stated that net sales were impacted by approximately 1% due to January storm-related shipment delays and associated supply chain costs. The factors also affected adjusted EBIT by approximately $14 million and adjusted EPS by approximately $0.04 per share in the quarter.

Formerly known as Campbell Soup Company, The Campbell’s Company (NASDAQ:CPB) offers affordable food and beverages, with its operations divided into two divisions: Snacks and Meals & Beverages. Its brand portfolio comprises approximately 16 brands, including Campbell’s, Cape Cod, Chunky, Goldfish, Kettle Brand, Lance, Late July, Pace, Pacific Foods, Pepperidge Farm, and others. The company’s North American Foodservice division offers recipes, food, and tailored solutions for a range of segments, including restaurants, healthcare facilities, specialty coffee shops, lodging, schools, and more.