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) 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.
Conagra Brands, Inc. (NYSE: CAG) has appointed Chaly Jo Moyen as the new Chief Strategy Officer and President of Foodservice & International, effective April 12, 2021. This newly created position will focus on executing Conagra's strategic initiatives and overseeing its international business and foodservice division. Moyen brings over 15 years of relevant experience from the Coca-Cola Company, where she was Senior Vice President of Strategy. Her expertise in brand marketing and customer leadership is expected to enhance Conagra's innovation and growth.
Conagra Brands, Inc. (NYSE: CAG) will host a webcast and conference call on April 8, 2021, at 9:30 a.m. ET to discuss its fiscal 2021 third quarter results. The news release is set to be issued at approximately 7:30 a.m. ET. Investors can access the call by dialing 1-877-883-0383 or 1-412-902-6506 for international participants. A replay of the webcast will be available until April 8, 2022. Further details and the audio webcast can be found on conagrabrands.com/investor-relations.
Conagra Brands has partnered with SOUR PATCH KIDS to launch a new range of Juicy Gels, available in REDBERRY and Blue Raspberry flavors. Made with real sugar, these gluten-free gels contain 0 grams of fat and 100 calories per serving, priced at $2.79 per pack. This collaboration aims to enhance consumer snacking experiences by combining the iconic flavors of both brands. Available in grocery stores and online from early February 2021, this initiative aligns with Conagra's commitment to innovation and growth in their food portfolio.
Conagra Brands, Inc. (NYSE: CAG) will present at the 2021 CAGNY Conference on February 16, 2021, at 9:20 a.m. ET. CEO Sean Connolly and CFO Dave Marberger will discuss the company's business strategies and financial outlook. A video webcast and presentation slides will be available on conagrabrands.com/investor-relations, with a replay accessible until February 16, 2022. Conagra is a leading branded food company in North America, known for its innovative portfolio that includes well-known brands like Birds Eye®, Healthy Choice®, and Reddi-wip®.
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