ConAgra Foods Inc, the maker of Slim Jim beef jerky and Chef Boyardee pasta, said it planned to exit its struggling private label foods business, which has suffered falling sales since it was bought two years ago.ConAgra Chief Executive Sean Connolly, who joined in April, said on Tuesday it was clear trying to turn around the private label business was draining resources. "We applaud management's relatively swift decision making on its portfolio strategy," KeyBanc Capital markets analyst Akshay Jagdale wrote in a note, adding that TreeHouse Foods Inc and Post Holdings Inc could be buyers.Shares of the company, which did not say how it would exit the business, were 0.5 percent lower at $43.22 in early trading.
ConAgra Foods, Inc. (ConAgra Foods) is the packaged food company. Shares of CAG fell by 0.587% or $-0.255/share to $43.18. In the past year, the shares have traded as low as $29.62 and as high as $44.16. On average, 3208300 shares of CAG exchange hands on a given day and today's volume is recorded at 270842.
Post Holdings, Inc. is a consumer packaged goods holding company. Shares of POST traded higher by 1.02% or $0.53/share to $52.47. In the past year, the shares have traded as low as $30.94 and as high as $53.99. On average, 929281 shares of POST exchange hands on a given day and today's volume is recorded at 18183.
TreeHouse Foods, Inc. is a consumer packaged food and beverage manufacturing company. Shares of THS traded higher by 7.96% or $5.9/share to $80.04. In the past year, the shares have traded as low as $69.01 and as high as $92.92. On average, 426048 shares of THS exchange hands on a given day and today's volume is recorded at 57312.