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 (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.
Conagra Brands has launched the "United For Change" campaign to encourage employee fundraising for community programs focused on alleviating poverty and promoting civil liberties. The initiative supports United Way and the ACLU Foundation, with company donations based on employee contributions. This campaign involves employees across 50 facilities in the U.S., Canada, and Mexico, addressing the increased need for social justice, especially during challenging times like COVID-19. Conagra aims to engage employees in creating lasting improvements in their communities.
Conagra Brands, Inc. (NYSE: CAG) has announced the retirement of its executive vice president and chief supply chain officer, Dave Biegger, effective May 2021. Biegger has been pivotal in leading the supply chain during significant changes, including the COVID-19 pandemic. He joined the company in 2015 and has nearly 40 years of experience in supply chain operations. Conagra is initiating a search for his successor, aiming for a smooth transition of responsibilities.
Conagra Brands reported robust first-quarter fiscal 2021 results, with net sales up 12.1% to $2.7 billion and organic net sales rising 15.0%. The company's operating margin improved by 800 basis points to 19.0%, while diluted earnings per share surged 86.1% to $0.67. The board approved a 29% dividend increase to $0.275, reflecting strong de-leveraging and confidence in long-term growth. For Q2, Conagra anticipates organic sales growth of 6-8% and adjusted EPS between $0.70 and $0.74, backed by increased production and investments.
Conagra Brands, Inc. (NYSE: CAG) has declared a quarterly cash dividend of $0.275 per share, marking a 29% increase from the previous dividend. This adjustment reflects the company’s commitment to delivering shareholder value. The dividend is scheduled for payment on December 2, 2020 to stockholders of record as of November 2, 2020. With this announcement, the annualized dividend reaches $1.10 per share, showcasing Conagra's financial strength and confidence in future growth.
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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.