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ConAgra Foods, Inc. (CAG)

  • Mon, Aug. 17, 1:39 PM
    • ConAgra Foods (CAG) announces the hiring of Darren Serrao to the position of chief growth officer.
    • Serrao was hired away from Campbell Soup where he led the U.S. consumer business.
    | Mon, Aug. 17, 1:39 PM | 3 Comments
  • Tue, Jul. 28, 8:54 PM
    • ConAgra (NYSE:CAG) has started talks with TreeHouse Foods (NYSE:THS) and Post Holdings (NYSE:POST) regarding the sale of its Ralcorp private label unit, which could be valued at ~$3.5B, Reuters reports.
    • The companies are said to have joined P-E firms including Apollo Global Management (NYSE:APO) and Cerberus Capital Management in the auction for Ralcorp.
    • Ralcorp, which makes private label cereal, pasta, crackers, jams and jellies, syrups and frozen waffles, has been plagued by integration costs and pressured profit margins since it was acquired by CAG for $5.1B in 2013.
    | Tue, Jul. 28, 8:54 PM | 3 Comments
  • Tue, Jul. 14, 8:35 AM
    • ConAgra Foods (NYSE:CAG) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.24%
    • Payable Sept. 1; for shareholders of record July 30; ex-div July 28.
    | Tue, Jul. 14, 8:35 AM | 2 Comments
  • Wed, Jul. 8, 5:56 PM
    • ConAgra Foods (NYSE:CAG) agrees to add two members to its board as part of an agreement with ~7.2%-owner Jana Partners, which has been pushing for change citing the company’s ailing private-label Ralcorp business.
    • CAG will appoint former CEO of Nestlé USA Bradley Alford and former Walgreens Boots Alliance CFO Timothy McLevish to the board, which will increase the board size to 14 members.
    • Last month, CAG said it planned to sell Ralcorp, less than three years after paying $5B for it; Reuters reports CAG has hired Centerview Partners to explore a sale of the private label unit.
    • CAG +0.9% AH.
    | Wed, Jul. 8, 5:56 PM | 2 Comments
  • Tue, Jun. 30, 8:04 AM
    • ConAgra Foods (NYSE:CAG) reports Consumer Food segment sales rose 4.5% to $1.86B in FQ4.
    • Commercial Foods segment sales grew 6.6% to $1.23B.
    • Private brands segment sales fell 1% to $1.02B.
    • Gross margin rate improved 94 bps to 22.24%.
    • Adjsuted segment profit: Consumer Foods: $319M (+20%); Commercial Foods: $154M (+3%); Private brands: -$31M (-30%).
    • Company plans to close Private brands operations.
    • CAG +3.62% premarket.
    | Tue, Jun. 30, 8:04 AM | 5 Comments
  • Tue, Jun. 30, 7:33 AM
    • ConAgra Foods (NYSE:CAG): FQ4 EPS of $0.59 in-line.
    • Revenue of $4.1B (+3.5% Y/Y) misses by $40M.
    • Shares +1.31% PM.
    • Press Release
    | Tue, Jun. 30, 7:33 AM | Comment!
  • Mon, Jun. 29, 5:30 PM
  • Fri, Jun. 19, 8:03 AM
    • Jana Partners isn't likely to stay quiet after taking a stake in ConAgra (NYSE:CAG).
    • The activist firm is already calling for a strategic review and capital allocation changes at ConAgra.
    • Retail analysts see the development as a positive for shares in the mid-term.
    • Deutshe Bank estimates a sum-of-the-parts valuation on ConAgra (CAG) of $47 if the company were to be broken up, although it concedes the board is likely to resists a break-up plan.
    • ConAgra issued a statement indicating it will open discussions with Jana after FQ4 earnings are reported on June 30.
    • Previously: ConAgra pops after Jana Partners takes a stake (Jun. 18 2015)
    • CAG +6.0% premarket to $41.47.
    | Fri, Jun. 19, 8:03 AM | 2 Comments
  • Thu, Jun. 18, 4:52 PM
    • Jana Partners discloses a new 7.2% stake in ConAgra (NYSE:CAG).
    • The hedge fund didn't hold any shares at the end of Q1.
    • ConAgra is called "undervalued in the filing.
    • SEC Form 13D
    • CAG +7.4% after hours to $42.00.
    | Thu, Jun. 18, 4:52 PM | 3 Comments
  • Wed, May 20, 12:52 PM
    • ConAgra Foods (CAG +0.4%) announces it worked out an agreement with the DOJ over a Peter Pan peanut butter recall in 2007.
    • Under the terms of an agreement with the government, ConAgra will enter a guilty pleas to a misdemeanor violation of The Food, Drug & Cosmetic Act and make a payment of $11.2M.
    | Wed, May 20, 12:52 PM | Comment!
  • Mon, Apr. 20, 4:58 PM
    • ConAgra Foods (NYSE:CAG) reaffirms previous guidance for FY15 EPS of $2.15 to $2.19.
    • The midpoint of the range is in-line with the consensus estimate of analysts at $2.17.
    • The company says it expects to reduce debt during the fiscal year by $1B.
    • SEC Form 8-K
    • CAG +0.14% after hours.
    | Mon, Apr. 20, 4:58 PM | Comment!
  • Fri, Apr. 17, 10:39 AM
    • Heinz is making a big push into mustard in the U.S.
    • The Berkshire/3G company has launched its "Ketchup's Got a New Mustard" campaign with a strong focus on its mustard product's use of 100% natural ingredients.
    • Heinz and Kraft have a merger in the works that will give the combined company a big slice of the condiments market.
    • Major U.S. mustard sellers: Reckitt Benckiser (OTCPK:RBGLY, OTCPK:RBGPF), Kraft Foods (NASDAQ:KRFT), ConAgra (NYSE:CAG), and McCormick (NYSE:MCK).
    | Fri, Apr. 17, 10:39 AM | 13 Comments
  • Thu, Apr. 2, 9:10 AM
    • ConAgra Foods (NYSE:CAG) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.71%
    • Payable June 2; for shareholders of record April 30; ex-div April 28.
    | Thu, Apr. 2, 9:10 AM | Comment!
  • Thu, Mar. 26, 12:37 PM
    • Deutsche Bank thinks 3G Capital will be back in the food sector for a major acquisition faster than some other investment firms anticipate.
    • 3G put itself in a stronger position to make a major purchase by not adding debt in the Kraft deal.
    • Analyst Eric Katzman sees some food names trading with a premium as the 3G shadow hangs over the sector, while others have downside risk with M&A speculation not making as much sense.
    • Premium on: ConAgra (NYSE:CAG), General Mills (NYSE:GIS), Mondelez International (NASDAQ:MDLZ), Pinnacle Foods (NYSE:PF), PepsiCo (NYSE:PEP).
    • Premium off: Campbell Soup (NYSE:CPB), Hershey (NYSE:HSY), Hormel (NYSE:HRL), Kellogg (NYSE:K), J.M. Smucker (NYSE:SJM).
    • Previously: Investors snapping up food stocks (Mar. 25 2015)
    • Previously: Beer fallout from Kraft buyout (Mar. 25 2015)
    • Previously: Kraft-Heinz merger has a few ETFs on the move (Mar. 25 2015)
    | Thu, Mar. 26, 12:37 PM | 11 Comments
  • Thu, Mar. 26, 7:47 AM
    • ConAgra Foods (NYSE:CAG) reports sales in its Consumer Foods segment fell 2% to $1.8B in FQ3 on flat volume.
    • Operating profit was up 3% to $274M on a tighter advertising spend.
    • The Commercial Foods segment saw a 1% gain in sales to $1B and 18% rise in operating profit to $145M.
    • Private Brands segment sales -5% to $1B on volume declines across brands.
    • Guidance: ConAgra sees FY15 EPS of $2.15-$2.19 vs. $2.14 consensus.
    • CAG +1.6% premarket.
    | Thu, Mar. 26, 7:47 AM | Comment!
  • Thu, Mar. 26, 7:32 AM
    • ConAgra Foods (NYSE:CAG): FQ3 EPS of $0.59 beats by $0.07.
    • Revenue of $3.88B (-1.8% Y/Y) beats by $10M.
    • Shares +0.74% PM.
    • Press Release
    | Thu, Mar. 26, 7:32 AM | Comment!
Company Description
ConAgra Foods Inc is a packaged foods company. It sells its products through grocery, convenience, mass merchandise, club, and drug stores.