Tue, Jun. 30, 8:04 AM
- ConAgra Foods (NYSE:CAG) reports Consumer Food segment sales rose 4.5% to $1.86B in FQ4.
- Commercial Foods segment sales grew 6.6% to $1.23B.
- Private brands segment sales fell 1% to $1.02B.
- Gross margin rate improved 94 bps to 22.24%.
- Adjsuted segment profit: Consumer Foods: $319M (+20%); Commercial Foods: $154M (+3%); Private brands: -$31M (-30%).
- Company plans to close Private brands operations.
- CAG +3.62% premarket.
Tue, Jun. 30, 7:33 AM
Fri, Jun. 19, 8:03 AM
- Jana Partners isn't likely to stay quiet after taking a stake in ConAgra (NYSE:CAG).
- The activist firm is already calling for a strategic review and capital allocation changes at ConAgra.
- Retail analysts see the development as a positive for shares in the mid-term.
- Deutshe Bank estimates a sum-of-the-parts valuation on ConAgra (CAG) of $47 if the company were to be broken up, although it concedes the board is likely to resists a break-up plan.
- ConAgra issued a statement indicating it will open discussions with Jana after FQ4 earnings are reported on June 30.
- Previously: ConAgra pops after Jana Partners takes a stake (Jun. 18 2015)
- CAG +6.0% premarket to $41.47.
Thu, Jun. 18, 4:52 PM
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.
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.
Fri, Feb. 13, 5:36 PM
Thu, Feb. 12, 4:30 PM
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
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%) .
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%.
Sep. 18, 2014, 9:06 AM
Jun. 19, 2014, 7:39 AM
Jun. 18, 2014, 12:45 PM
Jun. 18, 2014, 9:07 AM
CAG vs. ETF Alternatives
Other News & PR