Conagra Brands Bundle
Who Owns Conagra Brands?
Understanding Conagra Brands' ownership is key to its strategy. Recent divestitures, like the sale of frozen seafood brands for $55 million in 2025, show a focus on growth and debt reduction.
Conagra Brands, a major player in consumer packaged goods, has a history dating back to 1919. Its strategic moves, such as the 2024 sale of Chef Boyardee for $600 million, underscore its evolving business approach.
The ownership of Conagra Brands is primarily held by its public shareholders, with institutional investors and mutual funds owning significant portions. As of recent filings, major institutional holders include Vanguard Group, BlackRock, and Capital World Investors. These entities collectively manage a substantial percentage of the company's outstanding shares, influencing its governance and strategic decisions. Individual investors also contribute to the ownership base, reflecting broad public interest in the company's performance and its diverse product lines, which include brands like Birds Eye and Healthy Choice, and are analyzed in the Conagra Brands BCG Matrix.
Who Founded Conagra Brands?
The origins of Conagra Brands trace back to September 1919 when Alva Kinney established Nebraska Consolidated Mills (NCM). Kinney consolidated four grain milling companies, initially based in Grand Island, Nebraska. The company's early capital investment was $250,000. Frank Little is also recognized as a key member of the founding team alongside Kinney.
Founding of Nebraska Consolidated Mills
Nebraska Consolidated Mills (NCM) was founded in September 1919 by Alva Kinney. Kinney brought together four grain milling companies, starting operations in Grand Island, Nebraska.
Early Capital and Relocation
The initial capital for NCM was $250,000. In 1922, the company moved its headquarters to Omaha, Nebraska, following the acquisition of Updike Mill.
First Profit and Leadership Change
NCM achieved its first profit of $175,000 in 1922. Alva Kinney led the company until his retirement in 1936, when R.S. Dickinson took over as president.
Geographic Expansion
During the early 1940s, R.S. Dickinson initiated company expansion. In 1942, NCM opened its first plant outside Nebraska in Alabama, establishing both a flour mill and an animal feed mill.
Venture into Packaged Foods
In 1951, NCM funded the creation of the Duncan Hines brand of cake mixes to boost flour sales. This venture proved to be very successful for the company.
Strategic Focus Shift
NCM sold its Duncan Hines assets to Procter & Gamble in 1956. The company decided to concentrate on core commodities like grains and feeds rather than expanding into other prepared food categories.
The divestment of the Duncan Hines brand in 1956 allowed NCM to pursue aggressive expansion. This included establishing its first major grain processing plant outside the United States in Puerto Rico in 1958 through its subsidiary, Caribe Company. This strategic move marked a significant step in the company's growth and international presence, aligning with its focus on commodity processing. Understanding the history of Conagra Brands ownership reveals a journey of strategic acquisitions and divestitures. The company's evolution is a key aspect of its overall Mission, Vision & Core Values of Conagra Brands.
Early Ownership and Growth
The initial ownership of Nebraska Consolidated Mills was driven by Alva Kinney and Frank Little. The company's early years were characterized by strategic growth, including geographic expansion and a profitable venture into branded food products.
- Founded in 1919 by Alva Kinney.
- Initial capital was $250,000.
- Headquarters moved to Omaha, Nebraska, in 1922.
- Achieved first profit of $175,000 in 1922.
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How Has Conagra Brands’s Ownership Changed Over Time?
Conagra Brands, originally Nebraska Consolidated Mills, has a rich history of ownership evolution, marked by strategic acquisitions, divestitures, and a transition to a publicly traded entity. Key moments include its renaming to ConAgra in 1971 and subsequent public offering, alongside periods of financial challenge and strategic redirection in the 1980s that transformed it into a diversified food conglomerate.
| Year | Event | Impact |
|---|---|---|
| 1971 | Renamed to ConAgra | Shift from milling to broader food operations |
| 1973 | Went public on NYSE | Opened to public investment and broader ownership |
| 2000 | Rebranded as ConAgra Foods | Focus on packaged goods, divestiture of meat units |
| 2012 | Acquired Ralcorp | Significant expansion of private label business |
| 2018 | Acquired Pinnacle Foods | Strengthened presence in frozen foods and snacks |
| 2016 | Spun off Lamb Weston, renamed Conagra Brands | Focus on branded food portfolio |
The ownership structure of Conagra Brands, Inc. (NYSE: CAG) as of July 28, 2025, reflects a significant concentration of institutional investment. With a market capitalization of $8.85 billion, the company's shares are predominantly held by institutional investors, who account for approximately 89.68% of ownership. A total of 1,575 institutional owners and shareholders have registered with the SEC, collectively holding 480,077,980 shares. Among these, Vanguard Group Inc., BlackRock, Inc., and State Street Corp. are the largest institutional shareholders. BlackRock, Inc., for instance, increased its stake by 1,001,920 shares on November 30, 2024, bringing its total to 48,467,252 shares, representing 10.20% of its portfolio. Insider ownership, comprising executives and board members, remains relatively small at 0.56%.
Conagra Brands Ownership Landscape
Understanding Conagra Brands' ownership is crucial for assessing its strategic direction and market position. The company's history shows a deliberate shift towards a branded food portfolio.
- Conagra Brands is a publicly traded company on the NYSE.
- Institutional investors hold the vast majority of Conagra Brands' stock.
- Key institutional shareholders include Vanguard Group, BlackRock, and State Street.
- Insider ownership is a minor component of the overall Conagra Brands stock ownership.
- The company's Marketing Strategy of Conagra Brands is influenced by its diverse shareholder base.
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Who Sits on Conagra Brands’s Board?
The current Board of Directors at Conagra Brands is composed of nine members, tasked with providing strategic guidance and oversight. Jocelyn Mangan serves as the Chairwoman, a role she has held since 2018. Sean M. Connolly, the President and Chief Executive Officer since April 2015, has also been a director since that year.
| Director Name | Role | Year Joined Board |
|---|---|---|
| Jocelyn Mangan | Chairwoman | 2018 |
| Sean M. Connolly | President and Chief Executive Officer | 2015 |
| Anil Arora | Director | |
| Thomas 'Tony' K. Brown | Director | |
| Emanuel 'Manny' Chirico | Director | |
| George Dowdie | Director | |
| Francisco Fraga | Director | |
| Fran Horowitz | Director | |
| Richard H. Lenny | Lead Independent Director | 2009 |
| Melissa Lora | Director | |
| Ruth Ann Marshall | Director |
Conagra Brands operates under a governance structure where each common share carries one vote, a standard practice for companies listed on the NYSE. As of June 23, 2024, there were 478,208,750 common shares outstanding. The company's fiscal year 2024 proxy statement, filed with the SEC, details its board members and executive compensation. The aggregate market value of voting common stock held by non-affiliates on November 24, 2023, was approximately $13,618,363,248. This structure ensures that Conagra Brands ownership is distributed among its shareholders, with voting power directly tied to the number of shares held.
Board and Executive Updates
Recent changes have impacted the Conagra Brands board and executive team. Fran Horowitz will not seek re-election at the 2025 Annual Meeting of Shareholders. Noelle O'Mara joined the company in 2024 as Executive Vice President and President, New Platforms and Acquisitions, focusing on growth opportunities. Darren Serrao, Executive Vice President and Co-Chief Operating Officer, departed the company on May 26, 2024.
- Fran Horowitz is not seeking re-election in 2025.
- Noelle O'Mara joined in 2024 to lead new platforms and acquisitions.
- Darren Serrao departed at the close of fiscal year 2024.
- These changes reflect ongoing strategic alignment.
- Understanding these shifts is key to grasping the Growth Strategy of Conagra Brands.
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What Recent Changes Have Shaped Conagra Brands’s Ownership Landscape?
In recent years, Conagra Brands has undergone significant portfolio adjustments and leadership changes to enhance its long-term value proposition. The company's strategic divestitures and leadership appointments reflect a focused approach to optimizing its business operations and financial structure.
| Fiscal Year | Net Sales | Adjusted EPS | Net Debt | Leverage Ratio |
|---|---|---|---|---|
| 2024 | Over $12 billion | N/A | N/A | N/A |
| 2025 (reported) | $11.6 billion | $2.30 | $8 billion | 3.6x |
The company has been actively reshaping its brand portfolio through strategic divestitures. In fiscal year 2024, Conagra Brands sold the Chef Boyardee brand for $600 million. Further portfolio optimization is underway with the planned sale of its Van de Kamp's and Mrs. Paul's frozen seafood brands to High Liner Foods for $55 million, expected to close by the end of July 2025. Additionally, the divestiture of its 51.8% stake in Indian food company Agro Tech Foods Limited is anticipated to conclude by the end of calendar year 2024. These actions are designed to streamline operations and reduce the company's debt burden.
Leadership Appointments
Noelle O'Mara joined in 2024 as Executive Vice President and President, New Platforms and Acquisitions. Caroline Nadeau was appointed General Manager for Conagra Brands Canada in April 2025.
Shareholder Value Focus
Conagra Brands maintained a quarterly dividend of $0.35 per share, with an annualized rate of $1.40 per share, as of July 9, 2025. The company has a history of consistent dividend payments since January 1976.
Financial Outlook and Debt Reduction
Net debt was reduced by 4.4% to $8 billion in fiscal year 2025, lowering the leverage ratio to 3.6x. The company aims to reach a net leverage ratio of approximately 3.2 times by the end of fiscal year 2025.
Fiscal Year 2026 Projections
Conagra anticipates organic net sales growth between -1% and +1%. Adjusted operating margin is projected between 11.0% and 11.5%, with adjusted EPS expected to be between $1.70 and $1.85.
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