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ConAgra Foods, Inc. (CAG)

  • Dec. 4, 2014, 11:04 AM
    • ConAgra Foods (CAG -0.4%) says its joint venture with Meijer Frozen Food will invest $150M to expand a frozen potato plant in Netherlands.
    • The second production line is expected to be fully operational in the middle part of 2016.
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  • Dec. 2, 2014, 11:28 AM
    • ConAgra Foods(NYSE:CAG) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.73%
    • Payable March 3; for shareholders of record Jan 30; ex-div Jan 28.
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  • Oct. 9, 2014, 10:58 AM
    • Consumer staples stocks continue to persevere amid a broad market decline.
    • The Consumer Staples Select ETF (NYSEARCA:XLP) is +1.9% over the last 5 days vs. the -1.3% showing of the S&P 500 ETF.
    • Today, PepsiCo (PEP +1.5%) is doing some of the heavy lifting following its Q3 earnings report - while a number of meat stocks are also contributing including Pilgrim's Pride (PPC +1.3%), ConAgra Foods (CAG +1.8%), Hormel (HRL +0.7%), Seneca Foods Corp. (SENEA +0.7%), Diamond Foods (DMND +1.1%), Tyson Foods (TSN), and Sanderson Farms (SAFM +0.7%) .
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  • Sep. 24, 2014, 11:01 AM
    • Food stocks are topping market averages as investors shift to a more defensive stance.
    • The sector is also getting a look with grain, corn, meat, and rice prices moderating on improved global supplies.
    • On the move: Post Holdings (NYSE:POST) +2.0%, Dean Foods (NYSE:DF) +1.0%, Sanderson Farms (NASDAQ:SAFM) +1.7%, Diamond Foods (NASDAQ:DMND) +1.5%, Flower Foods (NYSE:FLO) +1.3%, Hain Celestial (NASDAQ:HAIN) +1.6%, General Mills (NYSE:GIS) +0.7%, ConAgra (NYSE:CAG) +1.1%, Kraft Foods (NASDAQ:KRFT) +1.0%, Tyson Foods (NYSE:TSN) +1.5%, Seaboard (NYSEMKT:SEB) +2.7%.
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  • Sep. 19, 2014, 8:45 AM
    • ConAgra Foods (NYSE:CAG) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 2.99%
    • Payable Dec. 2; for shareholders of record Oct. 31; ex-div Oct. 29.
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  • Sep. 18, 2014, 9:06 AM
    • Shares of ConAgra Foods (NYSE:CAG) rise in early action after some tight expense control helped the company best FQ1 EPS estimates.
    • The company also backed its FY15 guidance.
    • CAG +2.7% premarket
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  • Sep. 18, 2014, 7:47 AM
    • ConAgra Foods (NYSE:CAG) beat estimates in FQ1, despite a slip in sales, as SG&A expenses were 8.6% lower than a year ago and its interest expense fell by 12.6% during the period.
    • Segment revenue growth: Consumer Foods -1% to $1.63B; Commercial Foods +1.8% to $1.09B; Private Brands -1.7% to $980M.
  • Sep. 18, 2014, 7:32 AM
    • ConAgra Foods (NYSE:CAG): FQ1 EPS of $0.39 beats by $0.04.
    • Revenue of $3.7B (-0.5% Y/Y) in-line.
    • Press Release
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  • Sep. 17, 2014, 5:30 PM
  • Aug. 11, 2014, 7:59 AM
    • ConAgra Foods (NYSE:CAG) CEO Gary Rodkin announces he will retire next May.
    • A search committee to find a replacement has been formed by the company.
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  • Aug. 8, 2014, 4:38 PM
    • ConAgra Foods' (NYSE:CAG) long-time CEO Gary Rodkin is expected to retire in the next several months, and the company is in the early stages of reaching out to potential candidates to succeed him, according to a Reuters report.
    • Rodkin, who has led CAG since 2005, has been under pressure from shareholders to fix problems resulting from the company's acquisition of Ralcorp in Jan. 2013.
    • The purchase made CAG the biggest U.S. private-label food company, but the business of selling food under supermarket brands has struggled to reach promised profit targets, in part due to cut-price deals Ralcorp had struck with customers before it was taken over.
  • Jul. 15, 2014, 12:49 PM
    • ConAgra Foods, Inc. (NYSE:CAG) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 3.23%
    • Payable Aug. 28; for shareholders of record July 28; ex-div July 24.
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  • Jul. 14, 2014, 7:46 AM
    • ConAgra Foods (NYSE:CAG) announces it acquired TaiMei Potato Industry Limited for $93M in a move that will expand its potato production in China.
    • The company says the deal won't impact its debt reduction plans for FY15.
  • Jul. 11, 2014, 9:54 AM
    • Unilever's (UL -0.2%) sale of Slim Fast confirms the sluggish growth trends being seen by diet food brands.
    • Healthy Choice (CAG), Lean Cuisine (NSRGY), Weight Watchers (WTW), and Jenny Craig have all struggled to keep up with expectations.
    • What to watch: The push by consumers into healthier foods such as Greek yogurt has marginalized the concept of a "hard diet" based on self-denial. Analysts think the diet category could continue to suffer as a consequence.
  • Jun. 30, 2014, 12:42 PM
    • ConAgra Foods (CAG +0.1%) announces the completion of a $200M expansion of a frozen potato facility in Oregon.
    • The investment gives the company increased capacity of around 300M pounds of frozen products annually.
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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.
    | 1 Comment
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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.