Conagra's Shares Slide on Weak 4Q Sales, but Innovation Should Bolster Long-Term Trajectory
Narrow-moat Conagra's fiscal 2019 results fell slightly short of our expectations, as profitability improvement (adjusted operating margin expanded 40 basis points to 15.4%, slightly above our 15.2% estimate) was largely offset by softer sales ($9.5 billion, versus our $9.6 billion estimate), leading to adjusted EPS of $2.01 (versus our $2.06 outlook). However, we see two reasons to remain optimistic about the firm's long-term trajectory. First, we continue to think Conagra's strong slate of inn...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.