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. reports news on a North American branded packaged food business with products across frozen meals, vegetables, snacks, shelf-stable staples, refrigerated foods and foodservice channels. Its portfolio includes brands such as Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Banquet, Hunt's, Vlasic, Orville Redenbacher's and Wish-Bone.
Recurring company updates cover quarterly earnings, organic net sales, margins, guidance, dividends, product innovation and portfolio activity. Governance-related news also includes board composition, executive leadership matters and corporate policies affecting the public company.
Conagra Brands, Inc. (NYSE: CAG) has appointed Denise A. Paulonis to its board of directors, effective August 1, 2022. With this addition, the board will now consist of 13 members. Paulonis brings extensive experience in growth, supply chain innovation, and e-commerce from her role as CEO of Sally Beauty Holdings and previous positions at Sprouts Farmers Market and PepsiCo. Her appointment is expected to enhance Conagra's strategic direction amidst evolving food preferences.
Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend payment of $0.33 per share, an increase of 5.6% from the previous dividend. The payment will be made on September 1, 2022, to stockholders on record as of the close of business on August 3, 2022. This new rate translates to an annual dividend of $1.32 per share, reflecting the company's commitment to returning value to its shareholders.
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Conagra Brands reported a 6.2% increase in net sales for Q4 2022, totaling $2.9 billion, while organic net sales rose 6.8%. However, diluted EPS declined 48.4% to $0.33. For the full fiscal year, net sales grew 3.1% to $11.5 billion, but gross profit decreased 10.7% to $2.8 billion. The company provided guidance for fiscal 2023, expecting organic net sales growth of 4% to 5% and adjusted EPS growth of 1% to 5%.
Conagra Brands (NYSE: CAG) announced the opening of a new vegetable processing facility in Waseca, Minn., with a $300 million investment aimed at modernizing production capabilities. The 245,000 square foot facility, designed for enhanced automation and food safety, can process 120 million pounds of corn, 45 million pounds of peas, and over 20 million pounds of rice annually. The facility replaces a 92-year-old plant and is expected to reduce water usage by 25% per pound produced. In fiscal year 2021, the Birds Eye brand recorded more than $1.5 billion in retail sales.
Conagra Brands (NYSE: CAG) has announced over 50 new products targeting various mealtime preferences, including frozen meals, snacks, and sides. The offerings feature popular brands such as Healthy Choice, Marie Callender's, and Birds Eye, focusing on contemporary flavors and convenient preparation methods. Highlights include single-serve options, plant-based meals, and innovative snacks. With consumer demand for convenient and healthier options rising, Conagra aims to fulfill mealtime needs across grocery aisles. The new products are now available through retail and e-commerce channels.
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Conagra Brands, Inc. (NYSE: CAG) will host a webcast and conference call on July 14, 2022, at 9:30 a.m. ET to review its fiscal 2022 fourth quarter results. The news release will be available at 7:30 a.m. ET. Participants can access the conference call by dialing 1-877-883-0383 in the U.S. or 1-412-902-6506 internationally, using passcode 7662840. A replay will be accessible until July 14, 2023. Conagra's evolving portfolio includes well-known brands like Birds Eye® and Marie Callender's®, reflecting its commitment to innovation.
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Conagra Brands, Inc. (NYSE: CAG) has appointed Carey Bartell as executive vice president, general counsel, and corporate secretary, effective June 6, 2022. Bartell has over 20 years of legal experience and has been with Conagra for more than six years, previously serving as vice president and chief counsel. Her background includes roles at Hospira and Sachnoff & Weaver, with a strong focus on litigation and compliance. This leadership change aims to bolster the company's legal strategies and support its evolving brand portfolio.