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.
Apr. 20, 2015, 4:58 PM| Apr. 20, 2015, 4:58 PM
Apr. 17, 2015, 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).
Apr. 2, 2015, 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.
Mar. 26, 2015, 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)
Mar. 26, 2015, 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.
Mar. 26, 2015, 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.
Mar. 25, 2015, 5:30 PM
Mar. 24, 2015, 9:34 PM
- Kraft (NASDAQ:KRFT) finished AH trading at $71.44 following a WSJ report stating the company is in talks to sell itself to P-E firm 3G Capital. Mondelez (NASDAQ:MDLZ) rose 3.3% to $36.18, and ConAgra (NYSE:CAG) rose 1.9% to $35.27.
- The WSJ has added more details. Sources state a deal could be announced soon, and that 3G would use previously-acquired Heinz to make the purchase. It now calls buyout talks "advanced," and highlights 3G's track record of aggressively cutting costs at consumer companies it has acquired.
- The paper speculates Kraft "could be valued at well over $40 billion," given typical M&A premiums. The food/beverage giant closed AH with a $42.6B market cap.
Mar. 9, 2015, 7:37 AM
- Wheat prices took a sharp turn lower last week as traders weighed the large amount of global supply versus a tightening of demand in the U.S.
- Prices have recovered a bit today in front of a Department of Agriculture report, but are expected to see more downward pressure.
- The development should bring some relief for food companies as supplying contracts are reworked.
- Related stocks: SJM, FLO, CAG, POST, CPB, GIS, K, PEP, BUD.
- Related ETF: WEAT.
- Wheat daily price wheat chart.
Feb. 13, 2015, 5:36 PM
Feb. 12, 2015, 4:39 PM
- ConAgra (NYSE:CAG) selects former Hillshire Brands president and CEO Sean Connolly as its new CEO, replacing Gary Rodkin, effective April 6.
- Connolly led Hillshire from the time of its formation as an independent company in 2012 to its sale to Tyson Foods in Aug. 2014; prior to that, he led Sara Lee's North American Retail and Foodservice unit.
- Rodkin had announced his impending retirement last August.
- Earlier: ConAgra -1.1% after lowering profit guidance
Feb. 12, 2015, 4:30 PM
- ConAgra (NYSE:CAG) lowers profit guidance due to the impact of the strong U.S. dollar.
- The company also concedes taking a loss on some commodity hedges.
- 2015 EPS of $2.13-$2.28 expected vs. $2.26 consensus.
- CAG -1.1% after hours.
Jan. 28, 2015, 1:14 PM
- Popcorn isn't so boring, according to a report from Rabobank.
- The ready-to-eat popcorn category has seen growth rates of 25% as more millennials latch onto favored brands for snacking.
- Strong innovation from smaller players has boosted sales at the expense of some microwave popcorn brands from larger companies.
- P-E firms have taken notice of the potential and are active in the sector:
- Popcorn sellers with an eye on the trend include ConAgra (NYSE:CAG), Target (NYSE:TGT) through a private label brand, 1-800-Flowers.com (NASDAQ:FLWS), Snyder's-Lance (NASDAQ:LNCE), Diamond Foods (NASDAQ:DMND), PepsiCo (NYSE:PEP), and even Berkshire Hathaway.
ConAgra Foods, Inc. manufactures and markets processed and packaged foods. The company operates through four segments: Consumer, Commercial, Ralcorp and Ralcorp Food Group. The Consumer Foods segment includes branded and private brand food products that are sold in various retail and foodservice... More
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Country: United States
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