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ConAgra Foods, Inc. (CAG)

  • Sep. 19, 2013, 12:01 PM
    • Food stocks are out of favor after ConAgra (CAG -3.9%) disappoints with its FQ1 report and General Mills (GIS -2.8%) is downgraded by Wells Fargo.
    • A general theme is emerging out of the sector that consumers in the U.S. are trading down from higher prices.
    • Decliners: Kraft Foods (KRFT) -2.8%, J.M. Smucker (SJM) -1.1%, TreeHouse Foods (THS) -2.6%, Pinnacle Foods (PF) -1.7%, B&G Foods (BGS) -1.0%.
    • Related ETFs: PBJ
  • Sep. 19, 2013, 7:43 AM
    • ConAgra (CAG) reports sales in its Consumer Foods group fell 1.8% to $1.996B on soft volume.
    • Commercial Foods revenue dropped -0.4% to $1,264B. Results were impacted negatively when a large customer didn't renew a contract with Lamb Weston.
    • The company expects 2014 EPS of $2.34-$2.38 vs. $2.35 consensus. (PR)
    • CAG -0.2% premarket.
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  • Sep. 19, 2013, 7:33 AM
    • ConAgra (CAG): FQ1 EPS of $0.37 in-line.
    • Revenue of $4.20B (+27.2% Y/Y) misses by $0.1B. (PR)
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  • Sep. 19, 2013, 12:05 AM
  • Sep. 18, 2013, 5:30 PM
  • Sep. 11, 2013, 6:50 AM
    • ConAgra (CAG) is upgraded to a Buy rating from Neutral by Goldman Sachs after shares fell back yesterday due to a profit warning.
    • The investment firm sees upside for ConAgra from its private label business and M&A synergies.
    • A price target of $42 on shares is set.
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  • Sep. 10, 2013, 9:32 AM
    • ConAgra (CAG -4%) lowers its outlook for FY14 EPS to $2.34-$2.38 vs. $2.40 prior and $2.42 consensus.
    • The company says soft sales in its Consumer Foods segment is dragging down expectations for the fiscal year.
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  • Aug. 26, 2013, 8:25 AM
    • ConAgra Foods (CAG) recalls some Kroger (KR)-branded cookie dough packages due to a risk to customers with peanut allergies.
    • The company says it's working in cooperation with the FDA.
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  • Jul. 16, 2013, 1:50 PM
    ConAgra Foods, Inc. (CAG) declares $0.25/share quarterly dividend. Forward yield 2.72%. For shareholders of record July 31. Payable Aug. 30. Ex-div July 29. (PR)
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  • Jul. 10, 2013, 8:28 AM
    Glencore (GLCNF.PK, GLNCY.PK) reportedly is looking to sell its Dakota Growers Pasta business as it continues to divest assets acquired from its $6B purchase of Canadian grain handler Viterra last year. A deal for the third-largest U.S. pasta maker could fetch $300M-$400M; companies such as ConAgra (CAG) and Ebro Foods also may be interested.
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  • Jul. 3, 2013, 5:05 PM
    Oklahoma and other wheat-growing states reportedly are joining the Justice Department's probe into a proposal by ConAgra (CAG), Cargill and CHS to combine their U.S. flour milling businesses into a venture that would control a third of U.S. capacity. The states are concerned that the new venture would have the power to illegally push down prices received by farmers for their wheat.
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  • Jun. 27, 2013, 10:40 AM
    Heard during ConAgra Food's (CAG +6.1%) earnings call: 1) There's no doubt the purchase of Ralcorp was a game-changer as the company's volumes held up even with prices higher. 2) One unidentified major foodservice customer didn't renew a large potato order which impacted EPS by $0.06-$0.07. 3) Milling operations will be rolled into a joint venture with Cargill which well help reduce costs and will be accretive to earnings within a couple of years. 4) The long-term outlook for earnings growth is taken to 7%-9% from prior guidance of 6%-8%. (webcast)
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  • Jun. 27, 2013, 7:42 AM
    More on ConAgra Food's (CAG) FQ4: Results include contributions from the company's acquisition of Ralcorp which is expected to add $300M in cost-related synergies by the end of FY17. Consumer Foods organic volume was up 3% during the quarter to help take sales up to $2.3B - even with an unfavorable impact from lower price/mix. Sales in the Commercial Foods segment rose 4% while operating profit was 13% higher. (PR)
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  • Jun. 27, 2013, 7:33 AM
    ConAgra (CAG): FQ4 EPS of $0.60 beats by $0.01. Revenue of $4.59B misses by $0.02B. (PR)
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  • Jun. 27, 2013, 12:05 AM
    Notable earnings before Thursday’s open: CAG, KBH, MKC, CMC, SJR, SCHN, WOR
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  • Jun. 26, 2013, 5:30 PM
    Notable earnings before Thursday’s open: CAG, KBH, MKC, CMC, SJR, SCHN, WOR
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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.