Welcome to our dedicated page for Conagra Brands news (Ticker: CAG), a resource for investors and traders seeking the latest updates and insights on Conagra Brands stock.
Conagra Brands, Inc. (NYSE: CAG) is a leading packaged food company based in Chicago, Illinois. With a strong presence in North America, Conagra Brands is committed to providing the great food today's consumers want. The company's diverse portfolio features notable brands such as Marie Callender's, Healthy Choice, Banquet, Birds Eye, Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, and Chef Boyardee. These brands cover a wide range of food categories, including frozen food, snacks, shelf-stable staples, and refrigerated food.
Recent achievements highlight Conagra's focus on innovation and strategic partnerships. For instance, in January 2024, Mrs. Butterworth's collaborated with Dunkin' to launch a new pancake syrup flavored like Dunkin's iconic glazed donut. This new product aims to captivate consumers with its unique blend of syrup and donut flavors.
Financially, Conagra Brands reported a revenue of over $3 billion in the third quarter of fiscal year 2024, demonstrating resilience and steady progress. The company's domestic retail business continues to thrive, supported by strategic investments that have generated strong lifts and unit share gains. Additionally, Conagra's commitment to cost-saving initiatives has enabled the company to sustain margin recovery and invest in brand growth.
On the international front, although Conagra Brands predominantly operates within the United States, it continues to expand its footprint with 8% of its fiscal 2023 revenue coming from international markets. The company also recently announced plans to divest its 51.8% ownership stake in Agro Tech Foods Limited, a food company based in India. This divestiture aligns with Conagra's strategic focus on optimizing its portfolio.
Conagra Brands is also dedicated to corporate social responsibility. The company's 2023 Citizenship Report highlights significant progress in areas such as Good Food, Responsible Sourcing, Better Planet, and Stronger Communities. These initiatives underscore Conagra's commitment to sustainability and social responsibility.
For the latest updates and more information on Conagra Brands, please visit www.conagrabrands.com.
On January 28, 2022, Conagra Brands (NYSE: CAG) announced a voluntary recall of select Wish-Bone Thousand Island and Chunky Blue Cheese dressings due to undeclared eggs in the labels. The recalled products pose a risk of serious allergic reactions for individuals sensitive to eggs. No illnesses linked to the products have been reported. Conagra is coordinating with retailers to withdraw the affected items from stores and advises consumers to dispose of the products. This recall does not affect other Wish-Bone or Conagra Brands offerings.
Duncan Hines, a brand of Conagra Brands (NYSE: CAG), is unveiling a new line of Southern-inspired desserts in collaboration with Dolly Parton. This collection features cake mixes and frostings based on Parton's family recipes, including Coconut and Banana Puddin' Cakes. Available online starting January 26, 2022, for $40, the collection includes a collectible tea towel and spatula. Full retail availability is set for March, with cake mixes priced at $2.19 and frostings at $2.09. The partnership aims to offer a taste of Southern comfort through homemade baking experiences.
Conagra Brands reported a net sales increase of 2.1% to $3.1 billion for Q2 fiscal 2022, with organic net sales growing 2.6%. However, diluted EPS fell 26% to $0.57, affected by a 15.1% drop in gross profit. Adjusted operating margin decreased to 14.6%. The company anticipates organic net sales growth of around 3% and adjusted EPS guidance remains at $2.50. CEO Sean Connolly highlighted sustained consumer demand but acknowledged continued cost pressures.
Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend payment of $0.3125 per share, set to be paid on March 2, 2022. This dividend will benefit stockholders recorded as of January 31, 2022. As a leading branded food company in North America, Conagra continues to adapt its portfolio to meet evolving consumer preferences, showcasing a mix of iconic and emerging brands. This dividend reflects the company's commitment to returning value to its shareholders.
Conagra Brands, Inc. (NYSE: CAG) will hold a webcast and conference call to discuss its fiscal 2022 second quarter results on January 6, 2022, at 9:30 a.m. ET. A news release will be available at 7:30 a.m. ET the same day. Participants can access the call by dialing 1-877-883-0383 (U.S.) or 1-412-902-6506 (international) with the passcode 3428984. The event will feature a Q&A session following the presentation. A replay will be available until January 6, 2023.
Conagra Brands announced the success of its "United For Change" campaign, raising over $520,000 to support organizations like the United Way, ACLU, and Human Rights Watch. More than 2,260 employees from 36 locations contributed to this charitable initiative aimed at combating poverty and promoting social justice. The campaign also aimed to enhance employee understanding of community disparities and included matching contributions from the Conagra Brands Foundation. Senior Director Robert Rizzo emphasized the company's commitment to effecting positive change in local communities.
On November 19, 2021, Conagra Brands (NYSE: CAG) announced a voluntary recall of Birds Eye Broccoli Tots due to potential contamination with small rocks and metal fragments. The recall affects 12-ounce packages with specific best buy dates, following consumer reports of injury. Conagra is collaborating with retailers to remove the affected products from shelves. Consumers are advised to dispose of the recalled items and contact Conagra for assistance. The company has received two reports of dental damage linked to the product, highlighting a serious safety concern.
Coors Light launches the Hungry-Beerman Chill Holiday Feast, a festive meal designed to ease holiday stress, in partnership with Hungry-Man. This limited edition meal, available on November 19 at Terrible’s Market Store in Nevada, aims to simplify holiday dining with an easy preparation and an accompanying Coors Light. The campaign features a commercial showcasing holiday-hero Beerman and includes exclusive holiday merchandise like onesies and beanies, becoming available starting December 1. The overall focus is on delivering a stress-free holiday experience.
Conagra Brands, through its Hunt's division, is launching a limited edition ketchup named Hunt's Uranus Ketchup, inspired by comedic mentions on late night TV. This unique product aims to engage consumers by offering a fun twist on traditional condiments. On November 17, Hunt's will give away 100 bottles along with themed t-shirts to promote this novelty item. The brand emphasizes its commitment to flavor-rich products for all occasions, reiterating the quality of its ketchup lineup.
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