Conagra Brands Inc Stock Price, News & Analysis

Conagra Brands (NYSE: CAG) is expanding its Gardein Ultimate Plant-based line with seven new offerings set to launch in June. The new products include Chick'n Wings in BBQ and Buffalo styles, Spicy Chick'n Fillets, Bratwurst and Spicy Italian Saus'ge Links, and Original and Spicy Breakfast Saus'ge. Gardein aims to provide a diverse range of tasty plant-based options for flexitarians, vegans, and vegetarians. This expansion follows the successful release of their Ultimate Plant-Based Burger in 2020, enhancing their presence in the growing plant-based food market.

Conagra Brands, Inc. (NYSE: CAG) has appointed Lucy Brady as the new president of Grocery & Snacks, effective June 15, 2022. In her role, Brady will drive modernization and growth in Conagra's grocery and snack portfolio, which includes well-known brands such as Slim Jim and Duncan Hines. Brady brings extensive experience from McDonald's and Boston Consulting Group, focusing on innovation and business development. Her leadership is expected to enhance Conagra's market position and adapt to evolving consumer trends.

Duncan Hines, a brand of Conagra Brands (NYSE: CAG), is launching a new JOYfetti Cake Mix in June to celebrate birthdays and partner with The Birthday Party Project, a nonprofit aiding homeless children. Each year, 2.5 million children face homelessness, and through this collaboration, Duncan Hines aims to support even more kids in celebrating their birthdays. The JOYfetti Cake Mix will retail for $2.19 and comes with information about the partnership on its packaging. This initiative emphasizes the importance of memorable celebrations for every child.

Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend of $0.3125 per share, scheduled for payment on June 1, 2022. The record date for stockholders is April 29, 2022. This decision reflects Conagra's commitment to returning value to shareholders while maintaining its focus on innovation across its diverse portfolio of food brands.

Conagra Brands, Inc. (NYSE: CAG) has appointed Melissa Napier as senior vice president of Investor Relations, effective April 25, 2022. In her role, she will lead the company's investor relations program, focusing on financial communications and quantitative analysis. Napier brings over 25 years of finance experience, having previously worked at US Foods and Tyson Foods. Conagra's CFO, Dave Marberger, expressed excitement about her joining the leadership team, highlighting the importance of strong investor relationships to maximize shareholder value.

Conagra Brands, Inc. (NYSE: CAG) has announced the departure of independent director Scott Ostfeld from its board as of April 12, 2022. Ostfeld, who served on the board since February 2019 and is a partner at JANA Partners LLC, is leaving to join another company's board in the packaged food industry. Despite his exit, JANA Partners maintains a significant investment in Conagra. Company leaders praised Ostfeld's contributions, emphasizing his role in creating shareholder value and guiding the company through its strategic repositioning for long-term success.

On April 12, 2022, Evol, a brand of Conagra Brands (NYSE: CAG), announced the launch of eight Certified Carbon Neutral single-serve frozen meals, including the new Five Cheese Alfredo Mac with Chicken. These meals will be available starting in June and are produced in a TRUE certified Zero Waste facility. Evol's initiative aims to protect the environment by measuring and offsetting the carbon footprint of these products through investments in renewable energy and forest preservation. The meals reflect a growing consumer demand for environmentally responsible food options.

Conagra Brands (NYSE: CAG) announced its Q3 fiscal 2022 results, with net sales up 5.1% to $2.9 billion and organic net sales rising 6.0%. However, diluted EPS decreased 22.4% to $0.45, and adjusted EPS fell 1.7% to $0.58. The company faces high input cost inflation, expecting approximately 16% for the fiscal year. Adjusted operating margin guidance was lowered from 15.5% to 14.5%, while organic net sales growth for Q4 is forecasted at 7%. The CEO emphasized strong consumer demand despite inflation-related pricing actions.

Conagra Brands, Inc. (NYSE: CAG) unveiled its Fiscal 2021 Citizenship Report, showcasing advancements in environmental, social, and governance (ESG) initiatives aligned with the United Nations Sustainable Development Goals. Key highlights include achieving 100% renewable, recyclable, or compostable packaging by 2025, conserving 64 million gallons of water, and donating 30 million pounds of food to Feeding America. The report reflects a commitment to sustainability, diversity, and community support, and contains supplementary ESG data for fiscal year 2021.