We think Conagra’s renewed focus on branded fare is unlikely to offset categorywide headwinds.
We plan to maintain our longer-term outlook for Conagra Brands--which calls for low-single-digit sales growth and mid-teens average operating margin over the next five years--after the firm’s second-quarter results. Organic net sales grew slightly above 2%, about three fourths of which was driven by volume. However, we don’t expect this growth trajectory to be sustainable, as management attributed 220 basis points of organic growth to a benefit related to hurricanes, which spurred stocking in wa...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.
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