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UPDATE 1-Ralcorp lays out growth goals
Sept 5 |
Sept 5 (Reuters) - Ralcorp Holdings laid out its long-term growth targets on Wednesday and said it was "very willing" to listen to shareholder concerns.
Speaking at an investor conference less than two weeks after an activist investor called on the company to take drastic action such as selling itself, Ralcorp's chief executive said shareholder value has always been, and will continue to be, a key mission.
CEO Kevin Hunt said Ralcorp has met with representatives from Corvex Management, an investor that is pushing Ralcorp to either sell itself, buy another company or change its strategy. He said Ralcorp, a maker of private label -- or store brand -- foods, intends to meet with Corvex again and that he was "very willing" to listen to what investors had to say.
Ralcorp also said its long-term performance goals call for mid single-digit revenue growth and high single-digit earnings-per-share growth.
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