ConAgra Foods (NYSE: CAG) issued Q1 numbers on Tuesday. The market wasn't too impressed by them, but they weren't bad, actually. Net sales were lackluster, I'll admit. They dropped about 3%. Earnings per share from continuing operations, on the other hand, really shined. They increased well over 60% to 38 cents. Net income from continuing operations on a dollar basis soared over 50%.

Even better, that 38-cents-per-share statistic was firmly ahead of Wall Street expectations. According to our earnings preview, analysts were looking for 34 cents per share.

Continue reading ConAgra increases profit in the first quarter

ConAgra increases profit in the first quarter originally appeared on BloggingStocks on Wed, 23 Sep 2009 08:30:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• JP Morgan upgraded J.C. Penney (NYSE: JCP) to Neutral from Underweight based on lower input costs, stabilization in home, lower markdown dollars, and valuation.
• Oppenheimer upgraded Novellus (NASDAQ: NVLS) to Perform from Underperform as it believes Novellus' market share has stabilized and that the company is a potential acquisition target. The firm raised its price target to $20 from $9.
• Bernstein upgraded ConAgra (NYSE: CAG) to Market Perform from Underperform citing strength in grains and moderating input costs.
• ConocoPhillips (NYSE: COP) was raised to Buy from Neutral at Goldman.
• China Housing (NASDAQ: CHLN) was upgraded to Buy from Hold at Roth Capital.

Continue reading Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT

Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT originally appeared on BloggingStocks on Fri, 27 Mar 2009 10:00:00 EST. Please see our terms for use of feeds.

Supermarket staple ConAgra Foods (NYSE: CAG) reported earnings for the third quarter on Thursday. Wall Street was bullish on the company since the bottom-line performance beat the expectations of analysts. Shares of the stock closed up over 9% at the end of yesterday's trading session.

Sales increased slightly over 6% and net income came in at 40 cents per diluted share on an adjusted basis. That was good for an 18% growth rate on the bottom line. Market analysts were only counting on 36 cents per share. So, you can see why the market was excited.

Continue reading ConAgra beats estimates, sports a nice yield

ConAgra beats estimates, sports a nice yield originally appeared on BloggingStocks on Fri, 27 Mar 2009 08:00:00 EST. Please see our terms for use of feeds.

Kraft (NYSE: KFT), whose supermarket colleagues include Kellogg (NYSE: K) and General Mills (NYSE: GIS), will be reporting Q4 results tomorrow. Analysts expect the foodstuffs company to report $0.44 per share. Unfortunately, Kraft did $0.44 per share in the year-ago period. So the market doesn't think Kraft will grow the bottom line.

Perhaps that will work in Kraft's favor. With expectations so low, management has the opportunity to surprise to the upside. The company has a decent record in beating Wall Street expectations. Kraft certainly has brands that people like. However, things are becoming more difficult for the consumer. Layoffs are everywhere, and job security has taken a sabbatical. Kraft needs to convince people to pay extra for a package of Kraft-branded cheese or a box of Nabisco Ritz crackers when there are less-expensive generic substitutes available.

Continue reading Earnings preview: Can Kraft process growth in Q4?

Earnings preview: Can Kraft process growth in Q4? originally appeared on BloggingStocks on Tue, 03 Feb 2009 11:15:00 EST. Please see our terms for use of feeds.

"I'm excited to be partnering with Healthy Choice on the launch of Healthy Choice Fresh Mixers because I know how difficult it can be to try to find a healthy lunch during a hectic day," said Ivanka Trump . "Healthy Choice Fresh Mixers are convenient, fresh-tasting and easy to store in my desk drawer so I never have to skip lunch."

ConAgra (CAG) hires Ivanka Trump to pretend to like microwaveable meals originally appeared on BloggingStocks on Wed, 22 Oct 2008 15:40:00 EST. Please see our terms for use of feeds.

Hormel Foods (NYSE: HRL), a foodstuffs processor whose colleagues include ConAgra Foods (NYSE: CAG) and Kraft (NYSE: KFT), issued its Q2 numbers on Thursday. Revenues jumped 6% to $1.6 billion, although the growth rate was only 4% if you look at just the amount credited to organic appreciation. Net earnings per diluted share rose 14% to $0.56 per share. Volume jumped 5% altogether, and 3% based on, once again, organic growth.

This wasn't a bad earnings report for a major supermarket brand, although it certainly wasn't overly stimulating, either. So, you wanna take a guess as to by how much Hormel beat earnings expectations? If you said "by the proverbial penny," then you just might be a Wall Street junkie! Seems like so many companies got the penny-thing down pat. Anyway, Briefing.com not only said that earnings were better by a penny, but that revenues came in pretty much as expected.

Basically, Hormel is trying to navigate this inflationary environment as best it can. As we all know, it's pretty competitive out there in the grocery aisles even during prosperous periods. But take a look at the cash-flow statement and you'll see that the company did pretty well in terms of net cash from operations. That metric soared almost 30% over the six-month period. Only problem is, not too much was left over after capital expenditures and dividend payments were taken into account. Still, Hormel seems reasonably fine for now on the cash-flow front.

I'm not necessarily interested in Hormel's stock at this time. If I wanted to get in, I certainly would look to pick up shares at a higher yield; there are better opportunities out there for dividend yield, in my opinion. As Joseph Lazzaro observed a couple months back, Hormel is definitely an interesting defensive name during challenging economic times, and I did enjoy the double-digit bottom-line growth. I just think investors would be better off if this one came down a bit in terms of share price.

Disclosure: I don't own shares in any company mentioned here; positions can change at any time.

Hormel Foods had a cool quarter, but it might not be a buy just yet originally appeared on BloggingStocks on Fri, 23 May 2008 08:43:00 EST. Please see our terms for use of feeds.

ConAgra Foods (NYSE: CAG) is a top food producer, offering packaged and frozen foods, seafood and dairy products to retail, foodservice, commercial product and international customers. Among the company's many brands are Hunt's, Banquet, Chef Boyardee, Van Camp's, Healthy Choice, Orville Redenbacher's, PAM, Slim Jim and Wesson. Major competitors include Kraft Foods (NYSE: KFT) and Unilever (NYSE: UL).

The company pleased investors late last month, when it reported Q3 EPS of 63 cents and revenues of $3.53 billion. Analysts had been expecting 41 cents and $3.20 billion. Management also guided FY08 EPS to $1.80-$1.85 ($1.60 consensus) and announced that it would sell the company's trading and merchandising arm to the Ospraie Special Opportunities fund and others for $2.1 billion.

Continue reading ConAgra Foods (CAG): Share price forming bullish 'pennant'

ConAgra Foods (CAG): Share price forming bullish 'pennant' originally appeared on BloggingStocks on Wed, 02 Apr 2008 13:17:00 EST. Please see our terms for use of feeds.

The company said its quarterly profit climbed to $309 million, or 63 cents per share due to higher prices and demand for its products. These numbers are up from $193 million, or 38 cents per share reported in the same period a year ago when the company's earnings numbers were dragged down by recall costs. Analysts, on average, expected quarterly earnings of 39 cents per share.

ConAgra's quarterly revenue grew to $3.53 billion, up from $2.9 billion a year ago. Revenue during the period was helped by strong gains from the company's food and ingredients segment which offset soaring commodity costs. Analysts expected the company show sales of $3.17 billion in the third quarter, according to Thomson Financial.

Continue reading ConAgra (CAG) quarterly profit surges 60% on strong sales

ConAgra (CAG) quarterly profit surges 60% on strong sales originally appeared on BloggingStocks on Thu, 27 Mar 2008 10:22:00 EST. Please see our terms for use of feeds.

ConAgra Foods (CAG) raises forecast for Q2 earnings originally appeared on BloggingStocks on Thu, 06 Dec 2007 13:01:00 EST. Please see our terms for use of feeds.

ConAgra Foods

• Albertson's (sold at Albertson's);
• Hill Country Fare (sold at HEB);
• Food Lion (sold at Food Lion);
• Great Value (sold at Wal-Mart);
• Kirkwood (sold at Aldi);
• Kroger (sold at Kroger);
• Meijer (sold at Meijer);
• Western Family (now discontinued; previously sold at a variety of small retailers).
  

ConAgra (CAG) announces massive recall of pot pies originally appeared on BloggingStocks on Fri, 12 Oct 2007 08:50:00 EST. Please see our terms for use of feeds.

Botulism contamination recall: Wal-Mart chili added to list originally appeared on BloggingStocks on Mon, 23 Jul 2007 13:52:00 EST. Please see our terms for use of feeds.

There is an Omaha company that, quite simply, makes some of the most recognizable food brands in the world. Perhaps that is not too surprising; they have been at it since 1919.

ConAgra Foods (NYSE: CAG) offers packaged and frozen foods, seafood and dairy products to retail, foodservice, commercial product and international customers. Among the company's many brands are Hunt's, Banquet, Chef Boyardee, Van Camp's, Healthy Choice, Orville Redenbacher's, PAM, Slim Jim and Wesson. Major competitors include Kraft Foods (NYSE: KFT) and Unilever (NYSE: UL).

The company pleased investors late last month, when it reported Q4 EPS of 39 cents and revenues of $3.33 billion. Analysts had been expecting 31 cents and $2.83 billion. The CEO attributed success to record trading and merchandising profits, continued progress with cost-saving initiatives, and accelerating sales performance for key brands within the Consumer Foods segment. Management also guided FY08 EPS to $1.48, a figure in-line with the average Street estimate.

Continue reading ConAgra Foods: Good eats from Nebraska

ConAgra Foods: Good eats from Nebraska originally appeared on BloggingStocks on Mon, 09 Jul 2007 12:33:00 EST. Please see our terms for use of feeds.

Peanut butter sickness still coming: Peter Pan, Great Value salmonella cases top 600, would you eat it again? originally appeared on BloggingStocks on Fri, 01 Jun 2007 11:52:00 EST. Please see our terms for use of feeds.

Continue reading Peter Pan peanut butter recalled: have Americans stopped washing their hands?

Peter Pan peanut butter recalled: have Americans stopped washing their hands? originally appeared on BloggingStocks on Thu, 15 Feb 2007 14:21:00 EST. Please see our terms for use of feeds.