Conagra's Focus on Innovation Should Revitalize Its Top Line and Strengthen Its Margin Trajectory
Narrow-moat Conagra’s April 10 investor day bolstered our confidence that its ongoing efforts to restore top-line momentum while improving profitability have strengthened its prospects over the coming years. We contend management's strategy of refreshing its core brands, bringing more premium fare to market, and expanding its stronger brands into adjacent categories should support its efforts to realign its brand set with evolving consumer tastes. Moreover, Conagra's continued investments behind...Conagra Brands is a packaged goods food company. The company's segments are: Grocery and Snacks, which includes branded, shelf stable food products sold in various retail channels; Refrigerated and Frozen, which includes branded, temperature controlled food products sold in various retail channels; International, which includes branded food products sold in retail and foodservice channels outside of the U.S.; Foodservice, which includes customized food products for sale to restaurants and other foodservice establishments; Pinnacle Foods, which includes and private-label food products; and Commercial Foods, which included commercially branded and private label food and ingredients, among others.
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