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) reported a strong Q2 FY2021, with net sales increasing by 6.2% to $3.0 billion. Organic net sales grew 8.1%, driven by consumer shifts toward at-home meals due to COVID-19. Adjusted EPS rose 28.6% to $0.81. The company reduced gross debt by $2.3 billion, achieving a Net Leverage Ratio of 3.6x, ahead of schedule. For Q3 FY2021, Conagra expects organic net sales growth between 6% and 8%. Despite this success, the Foodservice segment saw a 23.1% drop in sales due to lower restaurant traffic.
Duncan Hines, a brand under Conagra Brands (NYSE: CAG), is excited to announce the launch of its new EPIC Baking Kits. Available in five flavors, including Fruity PEBBLES™ Cake Kit and Salted Caramel Brownie Kit, these kits are designed for easy home baking in just four steps. The kits will hit grocery stores and online retailers in March 2021, priced at $5.49 each. This initiative aims to tap into the growing trend of baking at home and celebrate the 50th anniversary of PEBBLES cereal.
Conagra Brands (NYSE: CAG) announced the appointment of Manny Chirico to its board of directors, effective February 1, 2021, increasing the board size to 11 members. Chirico, currently the CEO of PVH Corp., has over 25 years of experience and a strong focus on consumer brands and corporate culture. His addition is expected to enhance value for shareholders. Conagra Brands is recognized for its diverse portfolio of iconic food brands and aims to innovate for changing consumer preferences.
Conagra Brands, Inc. (NYSE: CAG) has declared a quarterly dividend of $0.275 per share, payable on March 3, 2021. This dividend will benefit stockholders of record as of January 29, 2021. Conagra, a leading branded food company in North America, focuses on innovation and evolving its portfolio to meet changing consumer preferences. The announcement underscores the company's commitment to returning value to its shareholders while continuing to adapt to market demands.
Conagra Brands, Inc. (NYSE: CAG) will hold a webcast and conference call on January 7, 2021, at 9:30 a.m. ET to discuss its fiscal 2021 second quarter results. A news release will be issued at 7:30 a.m. ET. The conference call can be accessed at 1-877-883-0383 for U.S. participants or 1-412-902-6506 for international participants, using passcode 6391339. A replay will be available until January 7, 2022. For details, visit their investor relations page.
Conagra Brands, Inc. (NYSE: CAG) has partnered with Chance the Rapper's nonprofit, SocialWorks, to launch a food packaging design mentorship program for Chicago high school students. This initiative aims to enhance artistic skills while developing a Duncan Hines Holiday Baking Kit Box featuring artwork by local student Devin Brown. The kit is now available on Amazon. Conagra has committed $300,000 to support SocialWorks and has a history of contributing to Chicago Public Schools through its New Chance Fund, impacting over 6,800 students.
On November 13, 2020, Conagra Brands celebrated America Recycles Day by recognizing eight facilities in the U.S. and Mexico that achieved Zero Waste Champion status for diverting over 95% of waste from landfills. These efforts contributed to an 84% companywide waste diversion rate for the fiscal year 2020. Conagra continues to implement strategic measures to enhance recycling initiatives and encourages innovative waste management solutions, reflecting its commitment to environmental responsibility.
Conagra Brands (NYSE: CAG) announces the return of Famous Queso as a seasonal favorite, providing new recipes to enjoy it in smaller gatherings during 2020. RO*TEL, VELVEETA, and ReadySetEat.com emphasize versatility with recipes such as Chicken Queso Soup, Crunchy Breakfast Queso Wraps, and Pretzel Knots with Beer Queso. Conagra aims to adapt to changing consumer preferences, promoting comfort food suitable for any occasion. Brett Castle, brand director, highlights the importance of culinary creativity in today's dining landscape.
Conagra Brands (NYSE: CAG) continues to drive its snacks innovation agenda, showcasing new products at the virtual 2020 NACS 'Crack The Code Experience'. The company, with a $2.5 billion snacks portfolio, focuses on convenience store growth by launching exciting new meat snacks and other treats. Their popular Slim Jim brand has introduced various innovative snacks, including the Slim Jim Savage meat sticks and Monster Size offerings. Conagra's strategic merchandising displays aim to enhance visibility and encourage impulse purchases among consumers.
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