Send me real-time posts from this site at my email
Zacks

Conagra's (CAG) New Products to Boost its Natural Offerings

With evolving consumer food preferences, Conagra Brands, Inc. CAG is investing in consumer-focused innovation as well as enhancing the natural and organic product portfolio to boost sales. In this context, the company announced plans to launch more than 24 different types of products by this summer. The entire assortment is in sync with evolving trends such as plant-based meals as well as keto-friendly diets. Moreover, the new launch comes at a time when consumers are resorting to at-home consumption to fight the novel coronavirus.

Demand for plant- based items is thriving as a result of increasing health awareness. Apart from vegans and vegetarians, even flexitarians prefer plant-based items. Notably, management highlighted that over 40% of the people in the United States are keen on introducing this healthy alternative to their diet. Conagra is floating several new products in the plant-based category under brands like Gardein, Birds Eye, Marie Callender's and Healthy Choice. Gardein Ultimate Plant-Based Jerky, Birds Eye Meatless Lasagna with Gardein Plant-Based Protein and Gardein Plant-Based Soups will be among the product launches.


 

Moving on, Conagra is introducing several products under brands like EVOL and Blake's. These products will cater to people who prefer keto-friendly and low-carb diet. Moreover, consumers looking for gluten-free or all-vegan products can also purchase these items. Blake's Gluten Free Mac, EVOL Pizza and Cheese and Healthy Choice Bone Broth Soups will be among the few products to be launched in this category.

Well, the coronavirus pandemic led to a shift in consumer’s eating patterns. Management suggests that people prefer eating a number of small meals compared with three standard meals per day. Incidentally, Conagra announced its plans to launch several items in the snacks category under brands like Orville Redenbacher's, nack Pack and Slim Jim. Apart from these, the company is on track to launch restaurant style meals under brands including P.F. Chang's over the next few months.

We believe that, Conagra’s newly unveiled pipeline of products will help this Zacks Rank #2 (Buy) company boost sales and capture market share in the forthcoming periods. Shares of the company have gained 11.2% in the past six months against the industry’s decline of 8.6%.

Other Top Picks

United Natural Foods, Inc. UNFI currently has an Earnings ESP of +12.00% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

B&G Foods BGS, with a Zacks Rank #1, has a trailing four-quarter positive earnings surprise of 5.4%, on average.    

McCormick MKC has a long-term earnings growth rate of 5.8%and a Zacks Rank #2.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Conagra Brands Inc. (CAG): Free Stock Analysis Report
 
United Natural Foods, Inc. (UNFI): Free Stock Analysis Report
 
McCormick Company, Incorporated (MKC): Free Stock Analysis Report
 
BG Foods, Inc. (BGS): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue