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Conagra Brands, Inc. (NYSE:CAG), the $10.3 billion consumer packaged foods company currently trading near its 52-week low, announced Wednesday that board member Fran Horowitz will not seek reelection at the company’s 2025 Annual Meeting of Shareholders scheduled for September.
According to an SEC filing, Horowitz informed the company of her decision on June 17. She will continue to serve through the remainder of her current term, which concludes at the annual meeting. The announcement comes as Conagra maintains a notable 6.5% dividend yield and prepares for its next earnings release on July 10.
The filing specifically noted that Horowitz’s decision to step down was not due to any disagreement with the Board of Directors or the company.
Conagra Brands, headquartered in Chicago, is a major consumer packaged foods company known for brands including Birds Eye, Duncan Hines, Healthy Choice, and Slim Jim.
The announcement was made in a Form 8-K filed with the Securities and Exchange Commission on June 18, 2025, signed by Carey Bartell, Executive Vice President, General Counsel and Corporate Secretary of Conagra Brands.
In other recent news, ConAgra Brands has announced several developments impacting its financial outlook and strategic direction. The company reported the sale of its Van de Kamp’s and Mrs. Paul’s frozen seafood brands to High Liner Foods for $55 million, a move expected to have a minimal impact on fiscal year 2026 earnings per share. Additionally, ConAgra has finalized the sale of its Chef Boyardee brand to Hometown Food Company, a transaction valued at $600 million, which is anticipated to result in a 4% dilutive effect on earnings per share.
Goldman Sachs downgraded ConAgra’s stock from Neutral to Sell, citing concerns over margin pressures due to tariffs and rising input costs. The firm set a new price target of $21, down from $26, and projected an earnings per share of $2.10 for fiscal year 2026, below the consensus estimate of $2.35. UBS initiated coverage of ConAgra with a Neutral rating, highlighting a balanced risk-reward profile despite expected challenges in organic growth. The firm noted that ConAgra’s competitive dividend and free cash flow yield could limit further downside potential.
Citi also adjusted its outlook on ConAgra, reducing the price target from $27 to $25, while maintaining a Neutral stance. This revision reflects a more conservative earnings outlook, influenced by the impact of the Chef Boyardee sale. These recent developments indicate a strategic shift for ConAgra as it seeks to streamline its operations and focus on core growth areas.
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