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.
Slim Jim, a leading protein snack brand, has launched Doge-themed merchandise in partnership with DogeDrip, a startup from the Dogecoin community. The collection includes limited-edition t-shirts and a baseball cap, available for purchase using cryptocurrency or cash. The shirts are priced at $24.69, and the cap at $21.69. This move follows Slim Jim's successful first NFT charity auction that raised $26,000 for World Central Kitchen. The collaboration highlights Slim Jim's innovative approach in the crypto space, appealing to its meme-loving fanbase.
Conagra Brands reported a 1.0% decrease in net sales for Q1 FY 2022, totaling $2.7 billion. Organic net sales fell 0.4%, impacted by a 2.0% volume decrease due to lapping prior year's COVID-19 demand surge. Adjusted diluted EPS dropped 28.6% to $0.50. Despite these declines, the company anticipates organic net sales growth of approximately 1%, up from flat guidance, driven by sustained consumer demand. Gross inflation is now projected at 11%. The CEO expressed confidence in the company's strategy to navigate inflation and leverage consumer shifts.
Conagra Brands (NYSE: CAG) returns to the 2021 NACS Show in Chicago, showcasing its $2.7 billion snacking portfolio. The company highlights new products, including a spicy Slim Jim Savage, a cheese variant, and BiGS sunflower seeds in collaboration with Little Caesars. ACT II launches Butter Lovers ready-to-eat popcorn, while Andy Capp’s introduces Hot Beer Battered Onion Rings. Conagra aims to enhance in-store strategies for retailers, focusing on product visibility and merchandising solutions to drive impulse purchases.
Conagra Brands, Inc. (NYSE: CAG) has declared a quarterly dividend of $0.3125 per share, to be paid on December 1, 2021. Stockholders of record as of the close of business on November 1, 2021 will receive this payment. This decision underscores the company's commitment to returning value to its shareholders while continuing to adapt its portfolio to meet evolving consumer preferences.
On Sept. 17, 2021, Conagra Brands Foundation announced $350,000 in grants through its "Nourish Our Community" program, aimed at combating food insecurity. The funds will be distributed among 17 nonprofits across the U.S. The program empowers employees to nominate local organizations addressing issues like domestic hunger, nutrition education, and urban agriculture. Robert Rizzo, Senior Director of the Foundation, emphasized the importance of these community partnerships in alleviating hunger, impacting millions of Americans daily.
Conagra Brands (CAG) announced a webcast and conference call scheduled for October 7, 2021, to discuss its fiscal 2022 first quarter results. The earnings release will be available at 7:30 a.m. ET, with the call starting at 9:30 a.m. ET. Investors can access the call by dialing 1-877-883-0383 (U.S.) or 1-412-902-6506 (international). The company's website will host the live audio and presentation slides, and a replay will be available until October 7, 2022.
On July 26, 2021, Conagra Brands (NYSE: CAG) announced the appointment of Fran Horowitz to its board of directors, effective August 2, 2021, expanding the board to 12 members. Chairman Richard H. Lenny emphasized that Horowitz's extensive experience in building consumer brands will benefit the company and its shareholders. Fran Horowitz, currently CEO of Abercrombie & Fitch Co., expressed her enthusiasm to contribute to Conagra's growth, reinforcing the company's commitment to innovation and consumer focus.
Conagra Brands (CAG) reported its Q4 and full-year 2021 results, revealing a 16.7% decline in net sales and a 10.1% drop in organic sales due to last year’s pandemic-related surge. Despite these challenges, diluted EPS rose 56.1% to $0.64. For the full year, net sales increased 1.2%, and diluted EPS reached $2.66, a 54.7% increase. The company anticipates flat organic sales growth for FY 2022, alongside an adjusted operating margin near 16%. Conagra's board approved a 14% dividend increase, reflecting confidence in business strength.
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