ConAgra Foods Inc (CAG.N)
30 Sep 2016
ConAgra Foods Inc , the maker of Chef Boyardee pasta and Hunt's ketchup, reported a quarterly profit that handily beat analysts' estimates as it raised prices on some products and discounted less.
* Shares rise as much as 8.2 pct (Adds executive comments and company background; updates share move)
* Company in conference call says Q1 volume declines in grocery, snack segment largely concentrated on a few brands such as Chef Boyardee , Snack Pack where co is reversing historical practice of promoting below $1 price point
* ConAgra Foods delivers continued margin expansion propelling first quarter EPS ahead of expectations
Sept 29 ConAgra Foods Inc, the maker of Chef Boyardee pasta and Hunt's ketchup, reported lower-than-expected quarterly sales, hurt by lower demand for its grocery, snacks and frozen food items.
BRIEF-Conagra foods inc- John Gehring will serve as Vice president and interim CFO of company's Lamb Weston business
* Gehring's employment in service to Lamb Weston under Gehring agreement is generally expected to continue until December 15, 2016
* Conagra foods acquires frontera, red fork and salpica brands
* Approved a dividend payment of $0.25 per share of CAG common stock to be paid on November 30, 2016 to stockholders Source text for Eikon: Further company coverage:
Supervisors at a ConAgra Foods processing plant who lacked the authority to hire and fire employees are still considered managers ineligible for overtime pay under the U.S. Fair Labor Standards Act, a federal appeals court ruled on Monday.
* Says CEO Sean Connolly FY 2016 total compensation $9.95 million versus $6.64 million in FY 2015 - SEC filing
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