Intrinsic value of Conagra Brands - CAG

Previous Close

$37.25

  Intrinsic Value

$13.60

stock screener

  Rating & Target

str. sell

-63%

Previous close

$37.25

 
Intrinsic value

$13.60

 
Up/down potential

-63%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CAG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 15.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -9.66
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  7,827
  7,984
  8,167
  8,377
  8,613
  8,874
  9,160
  9,472
  9,810
  10,174
  10,564
  10,982
  11,428
  11,902
  12,407
  12,942
  13,509
  14,109
  14,744
  15,415
  16,123
  16,871
  17,659
  18,489
  19,365
  20,287
  21,257
  22,279
  23,354
  24,485
  25,675
Variable operating expenses, $m
 
  7,592
  7,756
  7,945
  8,156
  8,390
  8,647
  8,927
  9,230
  9,557
  9,907
  9,852
  10,252
  10,677
  11,130
  11,610
  12,119
  12,657
  13,227
  13,829
  14,464
  15,134
  15,841
  16,587
  17,372
  18,199
  19,070
  19,986
  20,951
  21,965
  23,033
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  6,901
  7,592
  7,756
  7,945
  8,156
  8,390
  8,647
  8,927
  9,230
  9,557
  9,907
  9,852
  10,252
  10,677
  11,130
  11,610
  12,119
  12,657
  13,227
  13,829
  14,464
  15,134
  15,841
  16,587
  17,372
  18,199
  19,070
  19,986
  20,951
  21,965
  23,033
Operating income, $m
  926
  392
  411
  432
  457
  483
  513
  545
  580
  617
  657
  1,130
  1,176
  1,225
  1,277
  1,332
  1,390
  1,452
  1,517
  1,586
  1,659
  1,736
  1,817
  1,903
  1,993
  2,088
  2,188
  2,293
  2,403
  2,520
  2,642
EBITDA, $m
  1,194
  931
  953
  977
  1,005
  1,035
  1,069
  1,105
  1,145
  1,187
  1,233
  1,281
  1,333
  1,389
  1,448
  1,510
  1,576
  1,646
  1,720
  1,799
  1,881
  1,968
  2,060
  2,157
  2,259
  2,367
  2,480
  2,599
  2,725
  2,857
  2,996
Interest expense (income), $m
  224
  147
  153
  160
  169
  178
  188
  200
  212
  226
  240
  256
  272
  290
  309
  329
  350
  373
  397
  422
  449
  477
  507
  538
  571
  606
  643
  681
  722
  765
  810
Earnings before tax, $m
  730
  245
  258
  272
  288
  305
  325
  345
  368
  392
  417
  874
  904
  935
  968
  1,003
  1,040
  1,079
  1,121
  1,164
  1,211
  1,259
  1,311
  1,365
  1,422
  1,482
  1,545
  1,612
  1,681
  1,755
  1,833
Tax expense, $m
  255
  66
  70
  73
  78
  82
  88
  93
  99
  106
  113
  236
  244
  252
  261
  271
  281
  291
  303
  314
  327
  340
  354
  368
  384
  400
  417
  435
  454
  474
  495
Net income, $m
  639
  179
  188
  199
  210
  223
  237
  252
  268
  286
  305
  638
  660
  682
  707
  732
  759
  788
  818
  850
  884
  919
  957
  996
  1,038
  1,082
  1,128
  1,176
  1,227
  1,281
  1,338

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  254
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,096
  10,042
  10,273
  10,537
  10,834
  11,162
  11,522
  11,915
  12,340
  12,797
  13,288
  13,814
  14,374
  14,971
  15,606
  16,279
  16,992
  17,747
  18,546
  19,390
  20,281
  21,221
  22,212
  23,257
  24,358
  25,518
  26,739
  28,024
  29,376
  30,799
  32,295
Adjusted assets (=assets-cash), $m
  9,842
  10,042
  10,273
  10,537
  10,834
  11,162
  11,522
  11,915
  12,340
  12,797
  13,288
  13,814
  14,374
  14,971
  15,606
  16,279
  16,992
  17,747
  18,546
  19,390
  20,281
  21,221
  22,212
  23,257
  24,358
  25,518
  26,739
  28,024
  29,376
  30,799
  32,295
Revenue / Adjusted assets
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
  0.795
Average production assets, $m
  2,918
  2,978
  3,046
  3,125
  3,213
  3,310
  3,417
  3,533
  3,659
  3,795
  3,940
  4,096
  4,263
  4,440
  4,628
  4,827
  5,039
  5,263
  5,500
  5,750
  6,014
  6,293
  6,587
  6,897
  7,223
  7,567
  7,929
  8,310
  8,711
  9,133
  9,577
Working capital, $m
  292
  271
  278
  285
  293
  302
  311
  322
  334
  346
  359
  373
  389
  405
  422
  440
  459
  480
  501
  524
  548
  574
  600
  629
  658
  690
  723
  757
  794
  832
  873
Total debt, $m
  2,996
  2,886
  3,024
  3,182
  3,359
  3,555
  3,770
  4,004
  4,258
  4,531
  4,824
  5,138
  5,473
  5,829
  6,208
  6,610
  7,035
  7,486
  7,963
  8,467
  8,999
  9,560
  10,152
  10,776
  11,433
  12,125
  12,854
  13,621
  14,429
  15,278
  16,171
Total liabilities, $m
  6,106
  5,995
  6,133
  6,291
  6,468
  6,664
  6,879
  7,113
  7,367
  7,640
  7,933
  8,247
  8,582
  8,938
  9,317
  9,719
  10,144
  10,595
  11,072
  11,576
  12,108
  12,669
  13,261
  13,885
  14,542
  15,234
  15,963
  16,730
  17,538
  18,387
  19,280
Total equity, $m
  3,991
  4,047
  4,140
  4,246
  4,366
  4,498
  4,644
  4,802
  4,973
  5,157
  5,355
  5,567
  5,793
  6,033
  6,289
  6,560
  6,848
  7,152
  7,474
  7,814
  8,173
  8,552
  8,952
  9,373
  9,816
  10,284
  10,776
  11,294
  11,839
  12,412
  13,015
Total liabilities and equity, $m
  10,097
  10,042
  10,273
  10,537
  10,834
  11,162
  11,523
  11,915
  12,340
  12,797
  13,288
  13,814
  14,375
  14,971
  15,606
  16,279
  16,992
  17,747
  18,546
  19,390
  20,281
  21,221
  22,213
  23,258
  24,358
  25,518
  26,739
  28,024
  29,377
  30,799
  32,295
Debt-to-equity ratio
  0.751
  0.710
  0.730
  0.750
  0.770
  0.790
  0.810
  0.830
  0.860
  0.880
  0.900
  0.920
  0.940
  0.970
  0.990
  1.010
  1.030
  1.050
  1.070
  1.080
  1.100
  1.120
  1.130
  1.150
  1.160
  1.180
  1.190
  1.210
  1.220
  1.230
  1.240
Adjusted equity ratio
  0.383
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  639
  179
  188
  199
  210
  223
  237
  252
  268
  286
  305
  638
  660
  682
  707
  732
  759
  788
  818
  850
  884
  919
  957
  996
  1,038
  1,082
  1,128
  1,176
  1,227
  1,281
  1,338
Depreciation, amort., depletion, $m
  268
  540
  542
  545
  548
  552
  556
  560
  565
  570
  575
  151
  157
  164
  171
  178
  186
  194
  203
  212
  222
  232
  243
  254
  267
  279
  293
  307
  321
  337
  353
Funds from operations, $m
  1,359
  719
  730
  744
  759
  775
  793
  812
  833
  856
  880
  790
  817
  846
  877
  910
  945
  982
  1,021
  1,062
  1,106
  1,151
  1,200
  1,251
  1,304
  1,361
  1,420
  1,483
  1,549
  1,618
  1,691
Change in working capital, $m
  147
  5
  6
  7
  8
  9
  10
  11
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  22
  23
  24
  25
  27
  28
  30
  31
  33
  35
  37
  38
  40
Cash from operations, $m
  1,212
  713
  724
  737
  751
  766
  783
  802
  822
  843
  867
  775
  802
  830
  860
  892
  926
  962
  999
  1,039
  1,082
  1,126
  1,173
  1,223
  1,275
  1,330
  1,387
  1,448
  1,512
  1,580
  1,651
Maintenance CAPEX, $m
  0
  -108
  -110
  -112
  -115
  -119
  -122
  -126
  -130
  -135
  -140
  -145
  -151
  -157
  -164
  -171
  -178
  -186
  -194
  -203
  -212
  -222
  -232
  -243
  -254
  -267
  -279
  -293
  -307
  -321
  -337
New CAPEX, $m
  -242
  -60
  -68
  -78
  -88
  -97
  -107
  -116
  -126
  -136
  -146
  -156
  -166
  -177
  -188
  -200
  -212
  -224
  -237
  -250
  -264
  -279
  -294
  -310
  -326
  -344
  -362
  -381
  -401
  -422
  -444
Cash from investing activities, $m
  -189
  -168
  -178
  -190
  -203
  -216
  -229
  -242
  -256
  -271
  -286
  -301
  -317
  -334
  -352
  -371
  -390
  -410
  -431
  -453
  -476
  -501
  -526
  -553
  -580
  -611
  -641
  -674
  -708
  -743
  -781
Free cash flow, $m
  1,023
  546
  546
  546
  547
  550
  554
  559
  565
  573
  581
  474
  484
  496
  508
  522
  536
  552
  568
  586
  605
  625
  647
  670
  694
  719
  746
  775
  805
  836
  870
Issuance/(repayment) of debt, $m
  -1,050
  117
  138
  158
  177
  196
  215
  234
  254
  273
  293
  314
  335
  356
  379
  402
  426
  451
  477
  504
  532
  561
  592
  624
  657
  692
  729
  767
  807
  849
  893
Issuance/(repurchase) of shares, $m
  -926
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -1,154
  117
  138
  158
  177
  196
  215
  234
  254
  273
  293
  314
  335
  356
  379
  402
  426
  451
  477
  504
  532
  561
  592
  624
  657
  692
  729
  767
  807
  849
  893
Total cash flow (excl. dividends), $m
  -132
  663
  684
  703
  724
  746
  769
  793
  819
  846
  874
  788
  819
  852
  887
  924
  962
  1,003
  1,045
  1,090
  1,137
  1,187
  1,239
  1,293
  1,351
  1,411
  1,475
  1,542
  1,612
  1,686
  1,763
Retained Cash Flow (-), $m
  -277
  -83
  -93
  -106
  -119
  -132
  -145
  -158
  -171
  -184
  -198
  -212
  -226
  -241
  -256
  -271
  -287
  -304
  -322
  -340
  -359
  -379
  -400
  -421
  -444
  -467
  -492
  -518
  -545
  -573
  -603
Prev. year cash balance distribution, $m
 
  27
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  607
  591
  597
  605
  614
  624
  635
  648
  661
  676
  576
  593
  612
  631
  652
  675
  698
  723
  750
  778
  808
  839
  872
  907
  944
  983
  1,024
  1,067
  1,112
  1,160
Discount rate, %
 
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
 
  573
  524
  494
  464
  434
  404
  373
  342
  312
  282
  210
  187
  165
  144
  124
  106
  89
  74
  60
  48
  38
  30
  22
  17
  12
  9
  6
  4
  3
  2
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Conagra Brands, Inc., formerly ConAgra Foods, Inc., operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers. Conagra Foodservice offers products to restaurants, retailers, commercial customers and other foodservice suppliers. The Company also operates in the countries outside the United States, such as Canada and Mexico. The Company's brands include Marie Callender's, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher's, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters, Rosarita, Fleischmann's and Hunt's. The Company sells its products in grocery, convenience, mass merchandise and club stores.

FINANCIAL RATIOS  of  Conagra Brands (CAG)

Valuation Ratios
P/E Ratio 24.3
Price to Sales 2
Price to Book 3.9
Price to Tangible Book
Price to Cash Flow 12.8
Price to Free Cash Flow 16
Growth Rates
Sales Growth Rate -9.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -12.9%
Cap. Spend. - 3 Yr. Gr. Rate -12.1%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 69.4%
Total Debt to Equity 75.1%
Interest Coverage 4
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 7.9%
Ret/ On T. Cap. - 3 Yr. Avg. -0.1%
Return On Equity 16.6%
Return On Equity - 3 Yr. Avg. -1.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 30.1%
Gross Margin - 3 Yr. Avg. 28.2%
EBITDA Margin 15.6%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 11.8%
Oper. Margin - 3 Yr. Avg. 9.1%
Pre-Tax Margin 9.3%
Pre-Tax Margin - 3 Yr. Avg. 5.7%
Net Profit Margin 8.2%
Net Profit Margin - 3 Yr. Avg. -0.8%
Effective Tax Rate 34.9%
Eff/ Tax Rate - 3 Yr. Avg. 38.2%
Payout Ratio 64.9%

CAG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CAG stock intrinsic value calculation we used $7827 million for the last fiscal year's total revenue generated by Conagra Brands. The default revenue input number comes from 2017 income statement of Conagra Brands. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CAG stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.9%, whose default value for CAG is calculated based on our internal credit rating of Conagra Brands, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Conagra Brands.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CAG stock the variable cost ratio is equal to 95.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CAG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.3% for Conagra Brands.

Corporate tax rate of 27% is the nominal tax rate for Conagra Brands. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CAG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CAG are equal to 37.3%.

Life of production assets of 27.1 years is the average useful life of capital assets used in Conagra Brands operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CAG is equal to 3.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3991 million for Conagra Brands - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 408.434 million for Conagra Brands is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Conagra Brands at the current share price and the inputted number of shares is $15.2 billion.

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COMPANY NEWS

▶ Conagra Brands Issues 2017 Citizenship Report   [Dec-07-17 03:11PM  PR Newswire]
▶ These Stocks Are Making U-Turns   [Nov-20-17 01:00PM  TheStreet.com]
▶ ConAgra's Charts Tell Me Now's the Time to Go Long   [Nov-16-17 02:35PM  TheStreet.com]
▶ Hannity takes a tougher tone with Moore   [11:35AM  American City Business Journals]
▶ Conagra Brands Inc (CAG): Immense Growth Potential?   [Nov-13-17 11:55AM  Simply Wall St.]
▶ Conagra is revamping the Slim Jim brand   [Oct-16-17 02:13PM  CNBC Videos]
▶ Did Conagras Margins Improve in Fiscal 1Q18?   [07:42AM  Market Realist]
▶ Conagra Beat Fiscal 1Q18 Earnings Estimates   [07:41AM  Market Realist]
▶ Hain Celestial CEO on Engaged Capital deal   [Oct-02-17 07:18PM  CNBC Videos]
▶ Whats Restricting Conagras Upside?   [Sep-29-17 09:12AM  Market Realist]
▶ ConAgra beats Street 1Q forecasts   [Sep-28-17 09:41PM  Associated Press]
▶ Roku soars in its IPO & other big movers   [01:28PM  CNBC Videos]
▶ ConAgra's profit dips 18 pct   [07:41AM  Reuters]
▶ What to Expect from Conagra Stock in Fiscal 2018   [Sep-26-17 09:12AM  Market Realist]
▶ Why Analysts Are Confident about CAG Stock   [Sep-25-17 09:10AM  Market Realist]
▶ PAM® Introduces New Spray Pumps   [08:00AM  PR Newswire]
▶ Why Conagras Fiscal 1Q18 Sales Will Likely Fall   [Sep-22-17 02:36PM  Market Realist]
▶ Will Conagra Beat Fiscal 1Q18 EPS Estimates?   [01:06PM  Market Realist]
▶ Comparing Conagras Valuation to Its Peers   [Aug-30-17 04:05PM  Market Realist]
▶ What Do Analysts Recommend for Conagra Stock?   [02:36PM  Market Realist]
▶ Gulden's Becomes Official Mustard Of The Chicago Cubs   [Aug-03-17 04:37PM  PR Newswire]
▶ Hersheys 2Q17 Sales Beat Estimates, Outlook Lowered   [Jul-27-17 05:06PM  Market Realist]
Financial statements of CAG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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