ConAgra Foods, Inc.
 (CAG)

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  • Jun. 26, 2014, 12:19 PM
    • ConAgra (CAG +0.5%) loses most of its early gains following in-line FQ4 results, after saying during its earnings call that it foresees FQ1 earnings slightly below year-ago levels, with FY 2015 profit growth skewed to H2.
    • CAG says repaying debt will be a priority in the next year, and may consider raising dividend and buybacks after debt is repaid; it expects to have repaid ~$2B of debt by end of FY 2015.
    • Shares remain mired near 52-week lows, and Bloomberg speculates that CAG could be the subject of increasing calls for a management shakeup or even a breakup as a way to unlock value; J.P. Morgan says CAG could sell some brands to help pay down debt because acquisition targets have been fetching valuations much higher than CAG’s amid this year’s surge in food deals.
    | Jun. 26, 2014, 12:19 PM | 1 Comment
  • Jun. 26, 2014, 8:15 AM
    • ConAgra (CAG) +1.5% premarket after reporting FQ4 results that were in line with the company's recently lowered guidance; prior to CAG's pre-announcement, analyst consensus EPS estimate was $0.62.
    • Consumer foods sales fell 7.4% to $1.78B due to weak volumes, while commercial foods grew 1% to $1.63B.
    • Overall gross margin narrowed to 20.4% from 21.1%; input costs declined 2% to $3.53B.
    • Expects FY 2015 EPS to reflect a mid-single-digit increase from 2014's $2.17; analysts were projecting a 6% rise.
    • Says it plans to continue its $1/share annual dividend and expects to reduce debt by ~$1B in FY 2015.
    | Jun. 26, 2014, 8:15 AM | 7 Comments
  • Jun. 26, 2014, 7:32 AM
    • ConAgra Foods (CAG): FQ4 EPS of $0.55 in-line.
    • Revenue of $4.43B (-2.9% Y/Y) beats by $30M.
    | Jun. 26, 2014, 7:32 AM
  • Jun. 25, 2014, 5:30 PM
    | Jun. 25, 2014, 5:30 PM | 2 Comments
  • Jun. 19, 2014, 7:39 AM
    • Bank of America lowers its rating on ConAgra (CAG) to Underperform.
    • Yesterday, ConAgra warned on profits and blamed Chef Boyardee for most of the shortfall.
    • CAG -0.8% premarket
    | Jun. 19, 2014, 7:39 AM | 3 Comments
  • Jun. 18, 2014, 12:45 PM
    | Jun. 18, 2014, 12:45 PM | 5 Comments
  • Jun. 18, 2014, 9:07 AM
    • ConAgra (CAG) singled out Chef Boyardee as a brand which is cutting into the company's overall profitability due to weak demand.
    • A non-cash impairment charge of $681M is being taken in FQ4 due to the brand's slide in relevance and goodwill.
    • CAG -4.9% premarket to $31.24.
    | Jun. 18, 2014, 9:07 AM | 3 Comments
  • Jun. 18, 2014, 8:13 AM
    • ConAgra (CAG) warns it will miss analyst estimates with its FQ4 report.
    • The company sees FQ4 EPS of $0.55 vs. $0.62 consensus.
    • A drop in volume of 7% for ConAgra's consumer foods segment is partially responsible for the profit slip.
    • CAG -3.9% premarket
    | Jun. 18, 2014, 8:13 AM | 1 Comment
  • May 27, 2014, 7:28 AM
    • A $6.4B offer by Pilgrim Pride's (PPC) to buy Hillshire Brands (HSH) could rattle the food sector.
    • For starters, the deal could spoil Hillshire's offer on the table to buy Pinnacle Foods (PF).
    • The quick analyst take on a PPC-HSH combination is favorable with the companies focused in different areas (chicken vs. packaged meat) which could lead to easy access to new distribution channels.
    • Premarket: HSH +22.9% to $45.49, PF -5.3% to $31.50.
    • Also on merger watch in the food sector: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K CAG
    | May 27, 2014, 7:28 AM | 2 Comments
  • May 20, 2014, 5:28 PM
    • The Justice Department signals provisional approval for a deal to create the largest U.S. seller of flour, agreeing to let the companies involved address competition concerns by selling four mills to a smaller rival.
    • The Ardent Mills joint venture would comprise the flour operations of ConAgra (CAG), Cargill and CHS Inc. in a company with ~$4B in annual sales, or some one-third of the U.S. flour business.
    • The agency filed a civil lawsuit to block the formation of Ardent, but also says a sale of the four flour plants would resolve its competitive concerns.
    • ConAgra, Cargill and CHS say they expect to complete the sale of the four plants and start operations of Ardent by the end of this month.
    | May 20, 2014, 5:28 PM
  • May 12, 2014, 7:13 AM
    • A merger between Hillshire Brands and Pinnacle Foods could kickstart the consolidation frenzy in the food industry analysts have been forecasting.
    • The sector has been tapped to see a high rate of mergers and buyouts due to the significant synergies that could be unleashed through combinations.
    • On watch: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K, CAG
    | May 12, 2014, 7:13 AM | 1 Comment
  • Apr. 15, 2014, 9:48 AM
    | Apr. 15, 2014, 9:48 AM | 3 Comments
  • Apr. 10, 2014, 9:02 AM
    | Apr. 10, 2014, 9:02 AM | 15 Comments
  • Apr. 3, 2014, 10:03 AM
    • ConAgra Foods (CAG) declares $0.25/share quarterly dividend, in line with prior.
    • Forward yield 3.22%.
    • Payable May 30; for shareholders of record April 30; ex-div April 25.
    | Apr. 3, 2014, 10:03 AM | 1 Comment
  • Mar. 26, 2014, 10:45 AM
    | Mar. 26, 2014, 10:45 AM
  • Mar. 20, 2014, 9:43 AM
    • ConAgra Foods (CAG +0.7%) saw volume slip 3% during FQ3 in its consumer segment as shoppers pushed back on some of the higher prices the company showed.
    • Results were boosted quite a bit  during the quarter by the private-label business that Ralcorp brought into the fold.
    • The earnings report from ConAgra looks a little stronger than General Mills due to some "pockets of strength" the company identified, whereas as execs with General Mills leaned rather heavily on the weather excuse.
    • During the firm's earnings conference call, execs talked up the private-label business and discussed macroeconomic factors while skipping over some of the weather hyperbole.
    | Mar. 20, 2014, 9:43 AM | 2 Comments
Company Description
ConAgra Foods Inc is a packaged foods company. It sells its products through grocery, convenience, mass merchandise, club, and drug stores.