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ConAgra Foods, Inc. (CAG)

  • Sep. 27, 2013, 6:25 AM
    • ConAgra Foods, Inc. (CAG) declares $0.25/share quarterly dividend, in line with prior.
    • Forward yield 3.28%.
    • Payable Dec. 3; for shareholders of record Oct. 31; ex-div Oct. 29.
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  • Sep. 23, 2013, 3:47 AM
    • Lawyers for house-paint providers are due to make their final arguments today in a trial over whether the companies should have to remove lead paint from hundreds of thousands of homes in California, a requirement that could cost the firms up to $2.5B.
    • The defendants are Sherwin-Williams (SHW) NL Industries (NL), ConAgra (CAG), DuPont (DD) and BP (BP) unit Atlantic-Richfield.
    • The case has been brought by 10 city and county governments in California, which argue that the lead is harmful to children. Lead has been banned in residential paint since 1978.
  • 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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Company Description
ConAgra Foods Inc is a packaged foods company. It sells its products through grocery, convenience, mass merchandise, club, and drug stores.