Thu, Jun. 30, 8:01 AM
- ConAgra Foods (NYSE:CAG) reports Commercial foods segment sales fell 6% to $1.13B in FQ4.
- Consumer food segment sales dropped 12% to $1.69B with a 4% decline in volume.
- Gross margin rate improved 110 bps to 26.9%.
- SG&A expense rate rose 1510 bps to 27.9%.
- Adjusted segment profit: Consumer Foods: $290M (-10%); Commercial Foods: $155.5M (+1%).
- The company expects to report double-digit growth in EPS for FQ1.
- CAG -3.36% premarket.
Thu, Jun. 23, 9:48 AM
- Post Holdings (POST +3.1%) is reported to have had talks about buying ConAgra's (CAG +0.5%) Lamb Western frozen potato business in a deal valuing the operation at about $6B - roughly double the price expected when ConAgra initially made its spinoff announcement late last year.
- Talks are off for now, but could start back up once ConAgra finalizes the spin plan.
- In other Post news, BB&T upgrades to Buy from Hold. The $87 price target suggests 11.5% upside from yesterday's close.
Mon, May 9, 1:59 PM
- Select food stocks are rallying after commentary from Tyson Foods management points to favorable trends in the industry on the demand and cost side.
- Tyson expects "good" cattle supply for this summer and into 2017. The company delivered improved beef and chicken margins in Q1.
- Meat stocks Sanderson Farms (SAFM +2%), Hormel Foods (HRL +3.3%), and Pilgrim's Pride (PPC +4%) are all solidly higher, while on a broader sector view WhiteWave Foods (WWAV +1.8%) and ConAgra Foods (CAG +1.5%) are also rallying.
- Previously: Tyson Foods at all-time high after earnings dazzle (May 9)
- Previously: Tyson Foods to expand presence on Amazon Fresh (May 9)
Thu, Apr. 7, 7:48 AM
- ConAgra Foods (NYSE:CAG) reports Commercial foods segment sales rose 6% to $1.07B in FQ3.
- Consumer food segment sales dropped 2% to $1.85B with a 4% volume decrease.
- Gross margin rate expanded 260 bps to 27.4%.
- SG&A expense rate grew 430 bps to 16.7%.
- Adjusted segment profit: Consumer Foods: $339M (+17%); Commercial Foods: $175M (+21.1%).
- The company completed the divestiture of private label business during the quarter.
- FY2016 Guidance: Diluted EPS: $2.05 to $2.07.
- CAG +1.12% premarket.
Thu, Apr. 7, 7:33 AM
Dec. 22, 2015, 7:56 AM
- ConAgra Foods (NYSE:CAG) reports Commercial Foods segment sales rose 1% to $1.11B in FQ2.
- Consumer Food segment sales declined 2.9% to $1.983B with a 3% drop in volume.
- Gross margin rate improved 270 bps to 26.8%.
- SG&A expense rate expanded 450 bps to 17%.
- Adjusted segment profit: Consumer Foods: $341M (+10%); Commercial Foods: $162M (+11%).
- The company expects to complete the divestiture of Private brands operations in the first quarter of CY2016.
- CAG +1.05% premarket.
Dec. 22, 2015, 7:31 AM
- ConAgra Foods (NYSE:CAG): FQ2 EPS of $0.71 beats by $0.11.
- Revenue of $3.09B (-1.6% Y/Y) misses by $250M.
- Shares +1.17% PM.
Oct. 22, 2015, 7:45 PM
- Reuters reports TreeHouse (NYSE:THS) is in late-stage talks to buy private-label foodmaker Ralcorp from ConAgra (NYSE:CAG).
- Neither company has moved yet after hours. Ralcorp, which makes cereals, cookies, crackers, pasta, and other food products, was acquired by ConAgra for $6.8B in 2013 after factoring debt.
- The NY Post reported of talks between TreeHouse and ConAgra in August.
Sep. 25, 2015, 2:04 PM
- Packaged food stocks are ahead of broad market averages for the day. There are some consistent themes playing out in the sector which have increased interest in select names. Topping the list are M&A potential, activist investor action, and good old-fashioned fundamental valuation.
- Gainers: Treehouse Foods (NYSE:THS) +3.1%, B&G Foods (NYSE:BGS) +2.9%, ConAgra Foods (NYSE:CAG) +2.7%, Kellogg (NYSE:K) +2.6%, General Mills (NYSE:GIS) +2.3%, Campbell Soup (NYSE:CPB) +2.3%, J.M. Smucker (NYSE:SJM) +1.6%.
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
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. 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
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)
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
Other News & PR