Recent Research Analysts’ Ratings Updates for ConAgra Foods (CAG)

30 Sep 2015 | Author: | No comments yet »

Active Stocks’ Revenge with Bears-XL Group plc (NYSE:XL), ConAgra Foods, Inc. (NYSE:CAG), American Capital, Ltd. (NASDAQ:ACAS).

The FINANCIAL — ConAgra Foods, Inc., announced on September 29 the appointment of David Biegger as Executive Vice President and Chief Supply Chain Officer, effective Monday, Oct. 5. “We are pleased to welcome Dave to ConAgra,” said ConAgra CEO Sean Connolly. “He has a wealth of relevant experience and will be a terrific leader of our talented supply chain team.” Connolly added, “We are committed to building stronger brands, enhancing margins and delivering more consistent results.

The latest new occupant of a suddenly red-hot central area will be Omaha-based ConAgra, a large food producer best known for consumer products including Chef Boyardee, Hebrew National hot dogs and Slim Jim meat sticks. XL Group plc ((XL) reported on Tuesday that XL Innovate, the venture capital initiative sponsored by the firm, has takeover all of the shares of New Energy Risk, Inc. They now have a $43.00 price target on the stock, up previously from $38.00. 9/23/2015 – ConAgra Foods was downgraded by analysts at Zacks from a “buy” rating to a “hold” rating.

Against this backdrop, Dave and his team will continue to enhance our supply chain capabilities to give us a competitive advantage.” “ConAgra has a strong portfolio of brands whose success will be driven in part by a lean, entrepreneurial culture,” said Biegger. “I’m pleased to join Sean and the senior leadership team and am even more excited to have the opportunity to contribute to ConAgra’s continued growth and success.” In his new role with ConAgra Foods, Biegger will have end-to-end supply chain responsibilities for the Consumer Foods business, overseeing the company’s manufacturing, procurement, environment, health and safety, plant quality, customer logistics and planning, and transportation and warehousing teams, according to ConAgra Foods. Though a lease for office space has not yet been signed, negotiations are in the final stages for space at the Merchandise Mart, real estate sources say. Quarterly earnings surpassed both the year-ago tally and the Zacks Consensus Estimate by 15.4%, while revenues fell short of the Zacks Estimate by 24.3%. His results included achieving meaningful reductions in cost of goods sold, an all-time low injury rate, improved product quality and implementation of a recognized environmental sustainability program. Bruce Rauner has signed off on tax incentives the firm is seeking to move corporate staff here from Omaha, with a formal announcement expected later this week.

We believe the negative impact of the strengthening U.S. dollar has partially offset the benefits reaped from improving business in the company’s Commercial Foods and Consumer Foods segments as well as lower operating expenses. Rauner reportedly met with company officials months ago, before he imposed a limit on any new Edge tax-credit incentives until the state budget standoff is resolved. My colleague Ryan Ori reported in July that the company has been negotiating for 200,000 square feet at the Mart, enough for 1,000 or more workers, but his sources stressed today that no lease has been signed. Shares of American Capital, Ltd. (NASDAQ:ACAS) plummeted -1.95% during the previous trading session as the firm opened its session at $12.33, with outstanding shares of 272.25, its volume 3.06 Million was higher than average volume.

The company believes that its acquisition of Blake’s All Natural Foods would serve to improve top-line results in the upcoming quarters by tapping the growing demand for frozen foods. The ConAgra move would be the latest in a series lately, but the biggest corporate relocation from out of state since Boeing moved its headquarters to Chicago more than a decade ago.

Among others coming from the suburbs have been United Airlines, Kraft Heinz, Motorola Mobility, Gogo and Motorola Solutions, with talk that McDonald’s may shift at least part of its operations, too. Pete Ricketts (brother of Chicago’s own Tom Ricketts) as saying his administration is “willing to work with (ConAgra) in whatever way necessary” to keep the headquarters in the Cornhusker State. The Company’s brands include Egg Beaters, Chef Boyardee, Feast, Healthy Choice, Hebrew National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM, Peter Pan, Reddi-wip, Slim Jim and Snack Pack, among others.

Additionally, the Organization makes frozen potato and sweet potato items, along with other vegetable, spice, bakery goods, and grain products for its commercial and foodservice customers.

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