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.
Conagra Brands (NYSE: CAG) is launching a variety of new food products this summer, focusing on meals and sides with enhanced flavor and quality. The portfolio includes keto-friendly options from Healthy Choice, mega pizzas from Banquet, and innovative dishes from Birds Eye and Gardein. Notable new offerings are Healthy Choice Zero Sesame Chicken with Zoodles and Gardein Ultimate Plant-Based Chick'n. This product expansion aims to meet the growing demand for convenient, flavorful, and plant-based foods, reflecting Conagra's commitment to innovation in the food market.
Conagra Brands (NYSE: CAG) announced it is accelerating its transition to 100% cage-free eggs, targeting completion by the end of fiscal year 2024, a year earlier than its original commitment of 2025. The company plans incremental increases in cage-free egg usage, aiming for 20% by the end of fiscal year 2021, 45-50% by 2022, and 60-70% by 2023. This initiative is in response to consumer demand for better animal treatment, emphasizing responsible animal welfare practices as essential for customers and investors.
Conagra Brands, Inc. (NYSE: CAG) will hold a webcast and conference call on July 13, 2021, at 9:30 a.m. ET, to discuss its fiscal 2021 fourth quarter results. The earnings release will be available at approximately 7:30 a.m. ET.
Investors can access the live audio webcast at conagrabrands.com/investor-relations. The conference call can be joined by calling 1-877-883-0383 (U.S.) or 1-412-902-6506 (international), with the passcode 7112739.
Conagra Brands (NYSE: CAG) has formed multi-year partnerships with the Thurgood Marshall College Fund and the Hispanic Scholarship Fund to support Black and Brown students. These partnerships will provide scholarships and additional resources to ensure equitable access to higher education. Conagra's commitment includes financial assistance and professional development for students, aiming to overcome barriers to education costs. The initiative is part of Conagra's broader diversity and inclusion strategy, focusing on enhancing representation within the company and cultivating future leaders.
Conagra Brands has appointed Alexandre "Ale" Eboli as the new executive vice president and chief supply chain officer, effective August 2, succeeding retiring Dave Biegger. Eboli brings 25 years of experience in global supply chain leadership, having previously led the North America supply chain for Unilever, overseeing a $10 billion footprint and 14 manufacturing facilities. His role at Conagra will encompass all aspects of the supply chain, including manufacturing, logistics, and procurement. Eboli aims to drive innovation and growth within the company.
On April 20, 2021, Gardein, a brand of Conagra Brands (NYSE: CAG), launched the "Plant-Based Double Take Challenge" in celebration of National Look Alike Day. The initiative encourages consumers to recreate their favorite meat dishes using Gardein products, featuring a collection of four new plant-based recipes created by the Potash Twins. Participants can enter the challenge until May 20 by sharing their creations on social media or through the Gardein website. This partnership aims to inspire a shift towards plant-based eating.
Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend payment of $0.275 per share, scheduled for June 2, 2021. This payment will benefit stockholders who are on record as of the close of business on April 30, 2021. This dividend reflects the company's commitment to returning value to its shareholders and is a testament to its stable financial performance amidst evolving consumer preferences.
Conagra Brands reported an 8.5% rise in third-quarter net sales to $2.8 billion, with organic net sales up 9.7%. Diluted EPS increased by 38.1% to $0.58, driven by a strong focus on retail segments due to elevated at-home consumption during COVID-19. The company repurchased 8.8 million shares for $298 million. However, fourth-quarter guidance indicates a decline in organic net sales by 10% to 12%. Overall, the company is optimistic about future growth and has reaffirmed its fiscal 2022 guidance.
FAQ
What is the current stock price of Conagra Brands (CAG)?
What is the market cap of Conagra Brands (CAG)?
What are some key brands under Conagra Brands?
Where is Conagra Brands headquartered?
What recent product collaboration has Conagra Brands announced?
What percentage of Conagra Brands' revenue comes from international markets?
What strategic divestiture is Conagra Brands planning?
How does Conagra Brands address corporate social responsibility?
What are the financial highlights of Conagra Brands for the third quarter of fiscal year 2024?
How can I get more information about Conagra Brands?
