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ConAgra Foods, Inc. (CAG)

  • 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.
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  • 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.
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  • 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).
  • 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.
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  • 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, 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.
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  • 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
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  • Wed, Mar. 25, 5:30 PM
  • Tue, Mar. 24, 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.
  • Mon, Mar. 9, 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.
  • Fri, Feb. 13, 5:36 PM
    • Top gainers, as of 5:15 p.m.: IRWD +5.9%. HK +5.0%. EGY +4.8%. CAG +4.3%. TTS +3.5%.
    • Top losers, as of 5:15 p.m.: PES -9.7%. LOGM -7.7%. HOS -7.2%. THRX -6.4%. BTU -6.3%.
  • Thu, Feb. 12, 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
    | 1 Comment
  • Thu, Feb. 12, 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.
    | 1 Comment
  • Wed, Jan. 28, 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, (NASDAQ:FLWS), Snyder's-Lance (NASDAQ:LNCE), Diamond Foods (NASDAQ:DMND), PepsiCo (NYSE:PEP), and even Berkshire Hathaway.
  • Mon, Jan. 12, 10:45 AM
    • Citigroup downgrades a number of food stocks on its view higher consumer spending in the sector may already by priced into share prices.
    • Exposure to global markets also poses a risk due to currency swings and uneven demand, say analysts.
    • The investment firm takes the rating on ConAgra (CAG -1%), Mondelez International (MDLZ -0.8%), and Kellogg (K -0.9%) to Neutral from Buy.
    • McCormick & Company (MKC -0.8%), Kraft Foods Group (KRFT), and Campbell Soup (CPB) are all moved to Sell from Neutral.
  • Dec. 18, 2014, 8:15 AM
    • ConAgra Foods (NYSE:CAG) reports Consumer Food segment sales fell 1.9% to $1.98B in FQ2.
    • Commercial Foods segment sales were up 1.9% to $1.12B.
    • Private brands segment sales dropped 4.8% to $1.05B.
    • Gross margin rate declined 133 bps to 21.41%.
    • Segment profit: Consumer Foods: $301.7M (+5.5%); Commercial Foods: $148.1M (+16.0%); Private brands: -$202.3M.
    • FY2015 Guidance: Adjusted EPS: mid-single digit rate growth Y/Y; Operating cash flow: $1.6B to $1.7B; Debt: reduce by $1.0B.
    • CAG -0.27% premarket
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Company Description
ConAgra Foods Inc is a packaged foods company. It sells its products through grocery, convenience, mass merchandise, club, and drug stores.