ConAgra Foods Inc has moved the headquarters of its snacks segment from Edina to suburban Chicago, cutting 120 Twin Cities jobs in the process. The company closed its office at 7700 France Av. S earlier this month; its lease is up in August 
Share:  <span class="sent"><span class="company">ConAgra Foods</span> Inc has moved the headquarters of its snacks segment from Edina to suburban Chicago, cutting 120 Twin Cities jobs in the process.</span> The company closed its office at 7700 France Av. S earlier this month; its lease is up in August....The company closed its office at 7700 France Av. S earlier this month; its lease is up in August.<span class="sent"> Omaha based <span class="company">ConAgra</span>'s snack food products include Slim Jim meat sticks, Orville Redenbacher popcorn and Act II microwave popcorn.</span> The closure of the Edina snacks office was prompted by consolidation of the company's corporate offices, said Dave Jackson, a <span class="company">ConAgra</span> spokesman....<span class="sent">The snack food office's closing marks <span class="company">ConAgra</span>'s second exodus from the Twin Cities in recent years. In 2007, it shuttered two popcorn plants in the Twin Cities, moving production to Mexico and Indiana, while laying off about 200 workers here.</span>...In 2007, it shuttered two popcorn plants in the Twin Cities, moving production to Mexico and Indiana, while laying off about 200 workers here.<span class="sent"> Still, <span class="company">ConAgra</span> has 865 employees in Minnesota, including 530 at a Lakeville plant that makes cereal bars and fruit snacks.</span> It also employs 340 at a pudding and cocoa factory in Menomonie, Wis. Tweet this   read full story

Packaged foods maker, ConAgra Foods ( CAG ), produces a diverse product set from Healthy Choice packaged meals to Slim Jim beef jerky. The company reported fourth quarter and fiscal 2010 results on Thursday afternoon that on the face were not very impressive. The company reported overall sales fell about 5% and quarterly profit slumped 48% as increased costs weighed down results. 
Share:  Packaged foods maker, ConAgra Foods ( <span class="company">CAG</span> ), produces a diverse product set from Healthy Choice packaged meals to Slim Jim beef jerky. The company reported fourth quarter and fiscal 2010 results on Thursday afternoon that on the face were not very impressive. The company reported overall sales fell about 5% and quarterly profit slumped 48% as increased costs weighed down results. Tweet this   read full story

Net income for the year was $725.8m or $1.62 per diluted share compared to $978.4m or $2.15 per diluted share in the last year. Gary Rodkin, chief executive officer of ConAgra Foods, said: "We are pleased with our fiscal year, posting comparable diluted EPS of $1.74 and generating very strong operating cash flow of $1.4bn. We grew year over year unit and dollar market share in our Consumer Foods segment, reflecting successful sales, innovation, and marketing initiatives. "This top line progress, coupled with cost savings initiatives, allowed us to generate strong earnings, invest for the future, and more than offset challenges affecting our Commercial Foods segment.". 
Share:  Net income for the year was $725.8m or $1.62 per diluted share compared to $978.4m or $2.15 per diluted share in the last year. <span class="sent"><span class="analyst">Gary Rodkin</span>, chief executive officer of <span class="company">ConAgra Foods</span>, said: "We are pleased with our fiscal year, posting comparable diluted EPS of $1.74 and generating very strong operating cash flow of $1.4bn.</span> We grew year over year unit and dollar market share in our Consumer Foods segment, reflecting successful sales, innovation, and marketing initiatives. "This top line progress, coupled with cost savings initiatives, allowed us to generate strong earnings, invest for the future, and more than offset challenges affecting our Commercial Foods segment.". Tweet this   read full story

During a conference call with investors, company officials hinted that more strategic acquisitions are in the works. Over the next year, ConAgra chief executive Gary Rodkin said, the company expects earnings per share to grow 8 percent to 10 percent from the $1.74 in earnings per share recorded this year, not including the one time charges. Contact the writer: 444 1414, ross.boettcher@owh.com. 
Share:  During a conference call with investors, company officials hinted that more strategic acquisitions are in the works. <span class="sent">Over the next year, <span class="company">ConAgra</span> chief executive <span class="analyst">Gary Rodkin</span> said, the company expects earnings per share to grow 8 percent to 10 percent from the $1.74 in earnings per share recorded this year, not including the one time charges.</span> Contact the writer: 444 1414, ross.boettcher@owh.com. Tweet this   read full story

The company has seen the benefit of consumers staying home and cooking meals to save money, but the commercial segment for ConAgra, which supplies product to restaurants has suffered. “We grew year over year unit and dollar market share in our Consumer Foods segment, reflecting successful sales, innovation, and marketing initiatives,” Gary Rodkin, ConAgra Foods’ chief executive officer, said. “This top line progress, coupled with cost savings initiatives, allowed us to generate strong earnings, invest for the future, and more than offset challenges affecting our Commercial Foods segment. We are confident that fiscal 2011 will continue to demonstrate our company’s earnings power and ability to generate strong cash flows.”. 
Share:  The company has seen the benefit of consumers staying home and cooking meals to save money, but the commercial segment for ConAgra, which supplies product to restaurants has suffered. <span class="sent">“We grew year over year unit and dollar market share in our Consumer Foods segment, reflecting successful sales, innovation, and marketing initiatives,” <span class="analyst">Gary Rodkin</span>, <span class="company">ConAgra Foods</span>’ chief executive officer, said.</span> “This top line progress, coupled with cost savings initiatives, allowed us to generate strong earnings, invest for the future, and more than offset challenges affecting our Commercial Foods segment. We are confident that fiscal 2011 will continue to demonstrate our company’s earnings power and ability to generate strong cash flows.”. Tweet this   read full story

Citigroup, Inc (NYSE: C) analysts reiterated their "buy" rating on shares of ConAgra Foods Inc (NYSE: CAG) with a $31.00 price target. 
Share:  <span class="sent">Citigroup, Inc (NYSE: C) analysts reiterated their "buy" rating on shares of <span class="company">ConAgra Foods</span> Inc (NYSE: CAG) with a $31.00 price target.</span> Tweet this   read full story

Citi analyst says, "We believe ConAgra will report F4Q10 EPS in line with consensus estimates of 40c on June 24th behind expanding margins on the back of strong net productivity savings..utlook for F11 Appears Solidâ€" CAG is expecting $275 mm of cost savings in F2011, which equates to 40c in EPS, or 22% in EPS contribution. 
Share:  <span class="sent"><span class="analyst">Citi</span> analyst says, "We believe <span class="company">ConAgra</span> will report F4Q10 EPS in line with consensus estimates of 40c on June 24th behind expanding margins on the back of strong net productivity savings..utlook for F11 Appears Solidâ€" CAG is expecting $275 mm of cost savings in F2011, which equates to 40c in EPS, or 22% in EPS contribution.</span> Tweet this   read full story

ConAgra Foods, Inc. (NYSE: CAG) announced today that it has agreed to acquire the assets of American Pie, LLC, based in Woodbury, N.Y. American Pie manufactures frozen fruit pies, thaw and serve pies, fruit cobblers and pie crusts under the licensed Marie Callender’s and Claim Jumper trade names, as well as frozen dinners, pot pies and appetizers under the Claim Jumper trade name. Financial terms of the transaction, expected to close within 30 days, were not disclosed. 
Share:  <span class="sent">ConAgra Foods, Inc. (NYSE: CAG) announced today that it has agreed to acquire the assets of American Pie, LLC, based in Woodbury, N.Y. American Pie manufactures frozen fruit pies, thaw and serve pies, fruit cobblers and pie crusts under the licensed Marie Callender’s and Claim Jumper trade names, as well as frozen dinners, pot pies and appetizers under the Claim Jumper trade name. Financial terms of the transaction, expected to close within 30 days, were not disclosed.</span> Tweet this   read full story

OMAHA, Neb.--(BUSINESS WIRE)--ConAgra Foods, Inc., (NYSE: CAG) announced today that it has reached an agreement to sell its Gilroy Foods & Flavors dehydrated and vegetable product operations to Olam International for $250 million, subject to final working capital adjustments. The seasoning blends and flavors business and supporting plant operations will remain with ConAgra Foods’ Commercial Foods reporting segment following the transaction closing.  
Share:  <span class="sent">OMAHA, Neb.--(BUSINESS WIRE)--ConAgra Foods, Inc., (NYSE: CAG) announced today that it has reached an agreement to sell its Gilroy Foods & Flavors dehydrated and vegetable product operations to Olam International for $250 million, subject to final working capital adjustments. The seasoning blends and flavors business and supporting plant operations will remain with ConAgra Foods’ Commercial Foods reporting segment following the transaction closing. </span> Tweet this   read full story

ConAgra Foods (CAG) was downgraded today by analysts at EVA Dimensions, LLC and the stock is now at $24.40, down $0.35 ( 1.41%) on volume of 1,447,580 shares traded. EVA Dimensions, LLC downgraded the stock today to Overweight from Buy. 
Share:  <span class="sent">ConAgra Foods (<span class="company">CAG</span>) was downgraded today by analysts at EVA Dimensions, LLC and the stock is now at $24.40, down $0.35 ( 1.41%) on volume of 1,447,580 shares traded.</span> EVA Dimensions, LLC downgraded the stock today to Overweight from Buy. Tweet this   read full story