Conagra Brands Inc

CAG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$32.00	Kclq	Nxqlrspx

Conagra Reveals the Next Phase of Its Marketing Modernization at Investor Day; Shares Compelling

Rebecca Scheuneman

Jul 28, 2022

At its July 27 investor day, no-moat Conagra shared its long-term algorithm of low-single-digit organic sales growth, mid- to high-teen operating margins, and mid- to high-single-digit EPS growth, largely in line with our forecast for 2% sales growth, 18% operating margins, and 6% EPS growth. We do not plan a material change to our $44 fair value estimate, leaving shares trading at a 25% discount.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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