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ConAgra Foods, Inc. (CAG)

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  • Aug. 19, 2012, 4:15 AM
    Lawyers who earned hundreds of millions suing Big Tobacco are now going after major food companies such as PepsiCo (PEP), Heinz (HNZ) and General Mills (GIS) for wrongly labeling products and ingredients. One gem is calling sugar "evaporated cane juice," while rather more scarily, a ConAgra (CAG)  "propellant" in Pam cooking spray includes petroleum gas, propane and butane.
    | 14 Comments
  • Aug. 8, 2012, 3:46 PM
    Fears that the U.S. drought will drive up food prices next year are mostly unfounded, WSJ's Josh Mitchell writes, calculating the average consumer will spend only an extra $2.73/month. Food accounts for only ~14% of consumers’ daily living expenses, and given that prices for other items are falling or subdued, overall inflation likely will remain muted. (also)
    | 9 Comments
  • Aug. 8, 2012, 8:05 AM
    More on Ralcorp (RAH): Total sales volume up 2%, led by 29% gain in Frozen Bakery Products segment after acquisition of Refrigerated Dough. Operating profit fell 3% to $94.9M. SG&A expenses increased 5.8% Y/Y to $103.2M. (PR)
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  • Aug. 8, 2012, 7:29 AM
    Ralcorp (RAH): FQ3 EPS of $0.60 misses by $0.02. Revenue of $1.03B (+14.5% Y/Y) in-line. (PR)
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  • Aug. 1, 2012, 1:40 PM
    Food price increases resulting from the Midwest drought that ravaged crops might not be as steep as some expect, according to some analysis. Fruit and vegetables crops are relatively stable due to irrigation, while corn ingredients typically only make up a a small portion of many common packaged food items. For the time being beef and milk prices could actually dip as farmers sell off cattle that they can't feed effectively, though next year consumers could take the hit when the dwindling number of cattle directly affects beef and dairy prices.
    | 7 Comments
  • Jul. 30, 2012, 12:00 PM
    Unilever (UL +0.4%) works out an agreement to sell its North America frozen meals business to ConAgra Foods (CAG +1.1%) for $265M. The deal will include a transfer of licensing rights for the Bertolli and P.F. Chang brand names.
    | 1 Comment
  • Jul. 17, 2012, 10:55 AM
    ConAgra Foods (CAG): Declares $0.24/share quarterly dividend, in line with previous. Forward yield 3.9%. For shareholders of record July 27; Payable Aug 29; ex-div date July 25. (PR)
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  • Jul. 2, 2012, 10:43 AM
    Food companies stand in line to see higher commodity costs as a harsh summer drought shows little signs of easing in time to bring down prices. To make matters worse for the group, strapped U.S. consumers are viewed as more likely to trade down to value products before accepting higher food prices on common items. At risk: CAG, KFT, K, TSN, SFD, GIS, HNZ, POST.
    | 2 Comments
  • Jun. 21, 2012, 2:39 PM
    ConAgra Foods (CAG +3.5%) CEO Gary Rodkin tips in an earnings CC the type of headwinds the food seller has been facing. He notes commodity prices rose 11% over the first 3 quarters of the fiscal year, before settling back to 6% in FQ4, at the same time consumers became more thrifty and value-conscious. While the company has a plan to keep productivity improvements and pricing actions in place, macroeconomic factors sit firmly on center stage for it.
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  • Jun. 21, 2012, 7:56 AM
    More on ConAgra's (CAG) FQ4: Consumer Foods segment revenue up 6.1% Y/Y to $2.15B. Consumer Foods revenue rose 6.8% to $1.264B. Adopts changes to accounting for pensions. Expects EPS growth of 6% to 8% in FY13. (PR)
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  • Jun. 21, 2012, 7:33 AM
    ConAgra Foods (CAG): FQ4 EPS of $0.51 beats by $0.01. Revenue of $3.41B (+6.1% Y/Y) beats by $30M. (PR)
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  • Jun. 21, 2012, 12:05 AM
    Notable earnings before Thursday’s open: CAG, KMX, RAD
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  • Jun. 20, 2012, 5:30 PM
    Notable earnings before Thursday’s open: CAG, KMX, RAD
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  • Jun. 19, 2012, 7:05 PM
    ConAgra Foods (CAG) releases a statement in response to a class action lawsuit that calls into question the kosher status of its Hebrew National products. The company says the lawsuit is without merit. Its Hebrew National products are kosher, and have been subjected to close rabbinical supervision of the preparation and packaging process for over 100 years.
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  • Jun. 18, 2012, 9:08 AM
    Ralcorp (RAH) announces the acquisition of frozen meal maker Gelit for an undisclosed amount. The company anticipates that the deal will add $0.05 to GAAP accretion and $0.07 of cash accretion to EPS over the course of the first year following the closing of the transaction.
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  • May 23, 2012, 10:34 AM
    Shares of Ralcorp (RAH) move down 5.1% after the firm's twice-delayed FQ2 report finally gets released. The company missed the consensus EPS estimate of analysts, reporting $0.72 vs. $0.85, while knocking out in-line sales of $1.06B that marked a 16% Y/Y gain. In a separate announcement, Ralcorp says it snapped up privately-held Petri Baking Products for an undisclosed amount.
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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.