Shares of Conagra Brands (CAG), a major producer and marketer of retail food products, including many leading frozen brands, fell by approximately 2% in pre-market trading on November 14, following the stock’s “underperform” rating from the New York-headquartered Sanford C. Berntein & Co. investment management company.
“The frozen category has experienced positive growth over the past year … but this now seems to be running out of steam. Although consumer takeaway remains positive and is still strong on a two-year basis, comparables become tougher from here,” warned a Bernstein analyst.
Shares were trading at $32.84 at noontime on November 14, when this story was filed. The price was down by $2.37, or 6.71%, compared with the closing quote the day before.
Meanwhile, Conagra’s EVOL Foods unit, a Boulder, Colorado-based maker of clean label frozen entrees, burritos and breakfast items, on the same day announced the launch of a line of Modern Nutrition Bowls. Formulated to provide the vitamins and nutrients needed to support healthy lifestyles, they are being promoted as “perfect for on-the-go health conscious consumers looking for delicious options that don’t sacrifice taste for nutrition.”
The company has also expanded its lineup of breakfast items with four new protein-packed Morning Bowls. Here’s a synopsis of the Modern Nutrition Bowl range:
- Warrior Bowl. A good source of iron, the product is also a good source of protein. It’s made with seared beef, edamame, carrots, broccoli, red bell pepper and green onion over brown rice with a sesame miso glaze (15 grams of protein, 38 grams of whole grains).
- Vitalize Bowl. A strong blend of fiber and protein for energy, the Vitalize Bowl is made with grilled chicken, carrots, spinach, red bell peppers, and feta cheese crumbles over a brown rice and lentils blend with a tangy tahini and feta sauce (19 grams of protein, ½ cup of vegetables, 8 grams of fiber).
- Boost Bowl. Positioned as an excellent source of vitamin A, the recipe features soba noodles, carrots, broccoli, edamame, red bell pepper, cashews and green onions, in a creamy cashew sauce (16 grams of whole grains, ½ cup of vegetables).
- Balance Bowl. This “exceptionally balanced meal” boasts grilled chicken, sweet potato, asparagus, and yellow peppers on red rice with a basil pesto sauce (13 grams of protein, ½ cup of vegetables, 41 grams of whole grains).
“Today’s consumers are more conscious than ever about the food they eat and the products they buy,” said Sebastian Nava, research chef with EVOL Foods. “Our new Modern Nutrition Bowls offer a variety of vitamins, proteins and whole grains to provide tailored benefits to our customers seeking convenient, nutritious options to fit their lifestyles.”
- Breakfast Sausage & Uncured Bacon Bowl. Roasted potatoes, scrambled eggs, pork breakfast sausage, onions, red bell peppers and uncured bacon in a cheddar and Parmesan cheese sauce (17 grams of protein).
- Spicy Chipotle Chorizo Bowl. Roasted potatoes, scrambled eggs, black beans, bell peppers and chorizo pork crumble in a spicy chipotle cheese sauce (14 grams of protein).
- Smoked Ham Benedict Bowl. Roasted potatoes, scrambled eggs, broccoli, spinach and uncured smoked ham in a creamy lemon “Hollandaise sauce” (11 grams of protein).
- Creamy Basil Veggie Bowl. Potatoes, scrambled eggs, crimini mushrooms, portabello mushrooms, and spinach in a basil cream sauce (12 grams of protein).
“Breakfast is often called the most important meal of the day,” said Nava. “Our new bowls are perfect for the morning. They’re a delicious way to start the day and feature proteins from cage-free eggs and vegetarian-fed, antibiotic and hormone-free meats.”
All eight of the new items are available now in grocery and mass retailers across the USA.