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Conagra (CAG) Unveils Product Innovations to Drive Growth
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Conagra Brands, Inc. (CAG - Free Report) is on track with innovations and brand-building efforts for exploring growth prospects. Keeping this in mind, the well-known branded food company unveiled an impressive line-up of product innovations including meals and sides. The offerings are inspired from great flavor and quality, including plant-based items for health-conscious consumers.
Under ‘A Fresh Look at Frozen’ offerings, Conagra provides an assortment of brands including Healthy Choice, Banquet, Marie Callender's and Hungry Man. Notably, the Healthy Choice Zero category includes keto-friendly meals with lower than 10g of net carbs and no additional sugar. Further, the Healthy Choice Max is a kind of Healthy Choice Power Bowls with 33-34g of satiating protein. Other options under ‘A Fresh Look at Frozen’ include Marie Callender's Pot Pie with a Crust made with Cauliflower and Hungry Man Double Chicken and Double Meat Bowls among others.
Moving on, ‘The Fun Side of Vegetables’ category includes Birds Eye Skillets, Birds Stir Fry, and Birds Oven Roasters among others. These meals and sides offer great taste with convenience to the customers. Further, ‘Gardein Adds More Favorites to the Menu’ category includes Gardein Ultimate Plant-Based Chick'n and Gardein Plant-Based Chili among other options. Apart from these, the company highlighted that consumers can look for trending recipes from Conagra's culinary team on readyseteat.com.
Image Source: Zacks Investment Research
Focus on Innovation & Buyouts: A Key Driver
Conagra has been strongly committed toward undertaking innovation, which is working well. Despite the pandemic, the company continued to focus on innovations for customers as well as consumers. In fact, the company witnessed favorable consumer and customer response for its new products during third-quarter fiscal 2021. Management, in its last earnings call, highlighted that its innovation performance exceeded the 15% target in the past two fiscal years and the last 52 weeks. Moreover, the company is beginning to see solid customer acceptance for its fiscal 2022 innovation. The company’s focus on Conagra Way playbook has been yielding. Certainly, the company’s growth is rooted in its innovation platform, which is driving category performance.
Apart from this, Conagra acquired Pinnacle Foods in October 2018. The combination of the two companies is appropriate, given the increasing demand for frozen foods and snacks. The consolidation of these food companies helped create a robust portfolio of leading, iconic and on-trend brands. Further, the move is accelerating innovation and enabling the company witness long-term benefits in the frozen foods space. During its third-quarter earnings call, management noted that it generated total synergies of $270 million from Pinnacle Foods’ buyout, year to date. The company stated that it expects synergies worth $305 million (excluding pandemic-led costs) by the end of fiscal 2022.
All said, we believe that the Zacks Rank #3 (Hold) company’s solid focus on customer-friendly innovations positions it well to benefit from evolving consumer demand.
Notably, shares of Conagra have inched up 0.9% in the past year compared with the industry’s growth of 22.3%.
Medifast, Inc. (MED - Free Report) , currently sporting a Zacks Rank #1, has a trailing four-quarter earnings surprise of 12.7%, on average.
Nomad Foods Limited (NOMD - Free Report) , currently carrying a Zacks Rank #2 (Buy), has a trailing four-quarter earnings surprise of 10.3%, on average.
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Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Conagra (CAG) Unveils Product Innovations to Drive Growth
Conagra Brands, Inc. (CAG - Free Report) is on track with innovations and brand-building efforts for exploring growth prospects. Keeping this in mind, the well-known branded food company unveiled an impressive line-up of product innovations including meals and sides. The offerings are inspired from great flavor and quality, including plant-based items for health-conscious consumers.
Under ‘A Fresh Look at Frozen’ offerings, Conagra provides an assortment of brands including Healthy Choice, Banquet, Marie Callender's and Hungry Man. Notably, the Healthy Choice Zero category includes keto-friendly meals with lower than 10g of net carbs and no additional sugar. Further, the Healthy Choice Max is a kind of Healthy Choice Power Bowls with 33-34g of satiating protein. Other options under ‘A Fresh Look at Frozen’ include Marie Callender's Pot Pie with a Crust made with Cauliflower and Hungry Man Double Chicken and Double Meat Bowls among others.
Moving on, ‘The Fun Side of Vegetables’ category includes Birds Eye Skillets, Birds Stir Fry, and Birds Oven Roasters among others. These meals and sides offer great taste with convenience to the customers. Further, ‘Gardein Adds More Favorites to the Menu’ category includes Gardein Ultimate Plant-Based Chick'n and Gardein Plant-Based Chili among other options. Apart from these, the company highlighted that consumers can look for trending recipes from Conagra's culinary team on readyseteat.com.
Focus on Innovation & Buyouts: A Key Driver
Conagra has been strongly committed toward undertaking innovation, which is working well. Despite the pandemic, the company continued to focus on innovations for customers as well as consumers. In fact, the company witnessed favorable consumer and customer response for its new products during third-quarter fiscal 2021. Management, in its last earnings call, highlighted that its innovation performance exceeded the 15% target in the past two fiscal years and the last 52 weeks. Moreover, the company is beginning to see solid customer acceptance for its fiscal 2022 innovation. The company’s focus on Conagra Way playbook has been yielding. Certainly, the company’s growth is rooted in its innovation platform, which is driving category performance.
Apart from this, Conagra acquired Pinnacle Foods in October 2018. The combination of the two companies is appropriate, given the increasing demand for frozen foods and snacks. The consolidation of these food companies helped create a robust portfolio of leading, iconic and on-trend brands. Further, the move is accelerating innovation and enabling the company witness long-term benefits in the frozen foods space. During its third-quarter earnings call, management noted that it generated total synergies of $270 million from Pinnacle Foods’ buyout, year to date. The company stated that it expects synergies worth $305 million (excluding pandemic-led costs) by the end of fiscal 2022.
All said, we believe that the Zacks Rank #3 (Hold) company’s solid focus on customer-friendly innovations positions it well to benefit from evolving consumer demand.
Notably, shares of Conagra have inched up 0.9% in the past year compared with the industry’s growth of 22.3%.
3 Key food Picks
Darling Ingredients Inc. (DAR - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), has a trailing four-quarter earnings surprise of 29.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Medifast, Inc. (MED - Free Report) , currently sporting a Zacks Rank #1, has a trailing four-quarter earnings surprise of 12.7%, on average.
Nomad Foods Limited (NOMD - Free Report) , currently carrying a Zacks Rank #2 (Buy), has a trailing four-quarter earnings surprise of 10.3%, on average.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>