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 has announced a limited-edition line of pickleball gear in collaboration with Sprints, featuring Vlasic's iconic branding. The collection includes a hat, visor, paddle, and mini towel, priced between $22 and $72. The launch reflects Vlasic's commitment to the growing sport of pickleball, reinforced by its title sponsorship of the 2023 Vlasic Classic™ tournament in Cincinnati, scheduled for May 9 to 14. This partnership aims to cater to pickleball enthusiasts and highlight both brands' playful spirit.
Tim Nangle, VP of Conagra, expressed enthusiasm for the collaboration, aimed at merging the love for pickles with athletic style. The gear is available for purchase online and at the upcoming tournament.
Conagra Brands (NYSE: CAG) has announced a partnership with Wendy's to launch Wendy's famous chili in grocery stores nationwide. This collaboration aims to satisfy consumer cravings by offering a product that boasts 29g of protein per can, made with all-natural beef and a blend of peppers and beans. The chili will be available at retailers starting Spring 2023, priced at a suggested retail price of $4.99 per can. Both company representatives express excitement about bringing this beloved menu item from restaurants to homes. The partnership highlights Conagra's focus on innovation and expanding its product offerings, continuing to adapt to changing food preferences.
Conagra Brands, Inc. (NYSE: CAG) announced that its Board of Directors has approved a quarterly dividend of $0.33 per share, which will be paid on June 1, 2023. This payment is for stockholders of record as of the close of business on April 28, 2023. With a commitment to shareholder returns, this dividend reflects the company's focus on providing value to investors while evolving its product portfolio to meet changing consumer preferences.
Conagra Brands reported strong third-quarter fiscal 2023 results as of February 26, 2023. Net sales rose by 5.9% to $3.1 billion, with organic sales up 6.1%. The operating margin increased by 355 basis points to 15.9%, while diluted EPS surged 57.8% to $0.71. The company updated its fiscal 2023 guidance, projecting organic net sales growth between 7% and 7.5%, adjusted operating margin of 15.5% to 15.6%, and EPS of $2.70 to $2.75, reflecting growth of 14% to 17% year-over-year. CEO Sean Connolly emphasized strong brand performance and effective pricing strategies despite supply chain challenges.
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