Conagra Brands Inc Stock Price, News & Analysis

Conagra Brands' Gardein has launched its first-ever collection of plant-based meat alternative soups, featuring five new flavors designed to provide a hearty, vegan option for consumers. Each soup contains 10-15 grams of protein per serving from plant-based sources and is made with wholesome ingredients such as vegetables and vegan broth. The soups are both Non-GMO Project Verified and Vegan Action Certified, with no artificial preservatives or cholesterol. Priced at $2.99 per 15-oz. can, Gardein Soups aim to appeal to the growing demand for plant-based options.

Conagra Brands Foundation has awarded $350,000 in one-year grants to 22 nonprofits across 11 states through its "Nourish Our Community" program. This initiative, part of Hunger Action Month, aims to alleviate food insecurity and improve nutrition in local communities. Grants will support various projects, including food distribution, infrastructure upgrades for food pantries, and nutrition education. Conagra's Senior Director, Robert Rizzo, emphasized the importance of nutritious food access for community health.

Conagra Brands (CAG) announces the return of the "Snack, Watch and Win" Sweepstakes in partnership with Hallmark Channel. One grand prize winner will land a walk-on role in a Hallmark movie and receive a year’s supply of Orville Redenbacher's popcorn. The sweepstakes features additional prizes, including 50 first prizes of popcorn and limited-edition mugs for weekly winners. Consumers can enter daily until December 31, 2020, without purchase. This marks the second consecutive year of this promotion, emphasizing the increasing trend of home movie nights.

Conagra Brands, Inc. (NYSE: CAG) will host a webcast and conference call on October 1, 2020, at 9:30 a.m. ET to discuss its fiscal 2021 first quarter results, with a news release issued at 7:30 a.m. ET. Investors can access the call by dialing 1-877-883-0383 (U.S.) or 1-412-902-6506 (international) using passcode 5016282. A replay will be available until October 1, 2021. Conagra is committed to evolving its portfolio to meet changing consumer preferences.

Conagra Brands, Inc. (NYSE: CAG) has announced the launch of over two dozen new products this summer, responding to increased home cooking trends due to the COVID-19 pandemic. Popular brands like Birds Eye, Marie Callender's, and Healthy Choice are introducing innovative plant-based options, gluten-free meals, and new snacks. With nearly 40% of Americans seeking plant-based alternatives, items like Birds Eye Meatless Lasagna and Gardein Plant-Based Jerky are among the highlights. This product expansion aligns with evolving consumer preferences towards healthier eating.

Purple Carrot has announced the launch of its new 100% plant-based, single serve frozen meals, now available at most Whole Foods Market locations nationwide. This launch features four meal options, including Plant-Based Meatball Marinara and Fiesta Pepper Bowl, designed to cater to flexitarians and plant-based enthusiasts. The meals are priced at $5.29 and aim to make plant-based eating more accessible. Developed in partnership with Conagra Brands, this move taps into the growing demand for plant-based options and aligns with consumer trends.

Conagra Brands (CAG) has partnered with the Marine Stewardship Council (MSC) to offer sustainably sourced seafood options, starting summer 2020. This initiative includes labeling Van de Kamp's and Mrs. Paul's frozen fish products with the MSC blue fish label, ensuring they meet sustainable fishing standards. The MSC is recognized for its rigorous certification processes that support marine ecosystem health. This move aligns with Conagra's corporate social responsibility efforts under the UN Sustainable Development Goal 14 for conserving marine resources.

Conagra Brands (CAG) reported strong fourth quarter results for fiscal year 2020, with net sales up by 25.8% to $3.3 billion and organic net sales increasing 21.5%. Diluted EPS rose 57.7% to $0.41, while adjusted EPS more than doubled to $0.75. Gross profit also saw a significant increase of 30.3% to $923 million.

The company generated $1.47 billion in free cash flow, exceeding guidance, and decreased total debt by $271 million. For Q1 FY2021, the guidance indicates organic net sales growth of 10% to 13%.

On June 29, 2020, Conagra Brands announced a collaboration between its hot cocoa brand Swiss Miss and Lucky Charms, introducing a new Magically Delicious Hot Cocoa. This product features iconic marshmallows like hearts and rainbows, aimed at appealing to families. Each serving contains 180 calories and is packaged in six pre-portioned servings, retailing for $2.99. The partnership marks Swiss Miss's first co-branded innovation, leveraging Lucky Charms’ popularity while supporting local dairy farms in Wisconsin.