Conagra Brands Inc – Food Stocks Of 2021
Conagra is a diversified packaged food company primarily focused on the US market. It has a host of market-leading brands like Healthy Choice, Slim Jim, Reddi-Wip, Vlasic, etc., in its portfolio. Conagra Brands is more than 100 years old, and it has a wide distribution network that spans supermarkets, food service establishments, and restaurants. It benefits from strong brand power and economies of scale. The demand for food also tends to be steady over the long term. Therefore, the future prospects of Conagra are bright. Recently, there has been a fall in the markets due to a new virus variant called Omicron. If you are among those investors who wish to move towards a defensive strategy until things become clearer, then consumer staples are one sector to consider. If you were looking for food stocks in 2021, then companies like Conagra Brands can be a possible option to consider.
Information and Background of Conagra Brands Inc
Conagra Brands Inc was founded more than a century ago in 1919 as Nebraska Consolidated Mills. Alva Kinney and Frank Little acquired four-grain mills in Nebraska and began operations. By 1940, the business was making its flour, and it then expanded into the livestock feed business. The growth in Nebraska Consolidated Mills was strong, and the company became the third-largest miller in America. In 1971, the name of the company was changed to Conagra. Con is short-form for consolidated, and Agra was meant to be a short-form for agriculture. The initial years in the 70s were very difficult for Conagra, and it almost went bankrupt. However, the business survived and went on to grow through acquisitions. Conagra Brands could be worth exploring more closely if you are looking for diversified food stocks of 2021.
Food Stocks In 2021
Conagra Brands has had its fair share of negative publicity. It has been involved in recalling meat products due to e-coli and salmonella outbreaks. The company is also known to have spent significant amounts of money with other food majors to defeat government proposals that would have required products with genetically modified ingredients to be labeled as such. However, Conagra Brands continues to be one of the largest names in the food industry.