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Sep. 24, 2015, 5:37 PM
Sep. 22, 2015, 7:59 AM
- ConAgra Foods (NYSE:CAG) reports Commercial Foods segment sales grew 3.5% to $1.097B.
- Consumer Food segment sales fell 0.3% to $1.697B.
- Gross margin rate increased 370 bps to 25.1%.
- SG&A expense rate +20 bps to 14.5%.
- Adjsuted segment profit: Consumer Foods: $248M (+22%); Commercial Foods: $139M (+13%).
- Private brands operations classified as discontinued operations for the quarter.
- FQ1 results
Sep. 22, 2015, 7:33 AM
- ConAgra Foods (NYSE:CAG): FQ1 EPS of $0.45 beats by $0.05.
- Revenue of $2.79B (+1.1% Y/Y)
Sep. 21, 2015, 5:30 PM
Aug. 25, 2015, 5:35 PM
- investors should stick with "market darlings" - the 25 stocks that had performed the best during the six months before a market pullback - according to the analyst team at RBC.
- The firm notes that although many recent winners are leading the market lower, the extent of the underperformance is just 1%; it also says investing in the group following sharp market pullbacks is a winning strategy over the ensuing week, month and six months.
- RBC's 25 market darlings are AET, ALTR, AMZN, AIZ, CVC, CI, CAG, EA, EQIX, EXPE, GME, GOOGL, HAS, HCA, MNST, NFLX, NKE, PRGO, REGN, SBUX, TSO, TWC, TSS, UA, UHS
Aug. 22, 2015, 9:14 AM
- TreeHouse Foods (NYSE:THS) is in advanced talks to buy the private-label food business of ConAgra (NYSE:CAG), sources tell New York Post.
- A deal could be struck for the Ralcorp business in the neighborhood of $3B. ConAgra tipped earlier this year it planned to divest Ralcorp.
- Cerberus Capital Management and Post Holdings (NYSE:POST) are believed to still be in the hunt as well.
- TreeHouse's CEO and CFO met with groups of investors this week to reiterate the food company's thirst for M&A.
Aug. 17, 2015, 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.
Jul. 28, 2015, 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.
Jul. 14, 2015, 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.
Jul. 8, 2015, 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.
Jun. 30, 2015, 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.
Jun. 30, 2015, 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.
Jun. 29, 2015, 5:30 PM
Jun. 19, 2015, 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.
Jun. 18, 2015, 4:52 PM
May 20, 2015, 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.
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