AllAnalyst Report
logoMorningstarSeptember 11, 2020

Conagra Brands, Inc.: Conagra Benefiting From Shift to At-Home Food Consumption, but Boost Should Be Short Term

Symbols
CAG
Sector(s)
Consumer Defensive
Rating
Premium
Current Price
$35.49
Fair Value
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Economic Moat
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Stewardship
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Summary

Conagra Brands is a packaged food company that operates predominantly in the United States (92% of revenue and 94% of profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender’s, Healthy Choice, Banquet, and Birds Eye. Popular center-of-store brands include Duncan Hines, Hunt’s, Slim Jim, Vlasic, Orville Redenbacher's, and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, we estimate about 8% of fiscal 2020 sales were to the food-service channel, down from 10% if fiscal 2019 due to the pandemic.

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