Conagra Brands, Inc. (CAG - Free Report) recently enhanced its Slim Jim brand’s portfolio by rolling out three new varieties of Premium Smoked Sticks. Share price of this Zacks Rank #3 (Hold) stock remained nearly flat at $33.79 per share as of Oct 11, after news of the launch surfaced.
Inside the Headlines
Smokehouse Original, Memphis Style BBQ and Thai Style Chili are the three categories of Slim Jim Premium Smoked Sticks introduced by Conagra. These sticks are a unique type of meat snack, including advantages of both jerky and sticks. Conagra noted that these snacks are made of high-quality ingredients and sophisticated flavors. Moreover, these sticks are seasoned with the appropriate balance of spices, herbs, peppers and are slow-cooked for more than 14 hours. Notably, each stick is 100% premium pork or 100% grass-fed beef, including minimum 10 grams of protein.
Conagra stated that its new Premium Smoked Sticks will soon be available at various mass retailers and convenience stores across the United States. Notably, 1.2 ounce (oz) and 4.1 oz packs of Smoked Sticks will be available at $1.79 and $4.99, respectively
Conagra noted that the roll out of three new Slim Jim Premium Smoked Sticks boosts its innovation-based growth trajectory. Also, it will likely enhance its snacking products portfolio. Over the past few months, the company has taken bold moves for fortifying its snacking business. For instance, the acquisition of Duke’s and BIGS (April 2017) as well as the recently-inked deal to buy Angie's Artisan Treats, LLC (Sep 22, 2017) are anticipated to augment Conagra’s snacking business sales in the quarters ahead.
Stocks to Consider
Better-ranked stocks in the industry are listed below:
McCormick & Company, Incorporated (MKC - Free Report) currently sports a Zacks Rank #1 (Strong Buy). The company’s earnings per share (EPS) is projected to grow nearly 9.4% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Associated British Foods PLC (ASBFY - Free Report) carries a Zacks Rank #2 (Buy). Over the next three to five years, the company’s EPS is projected to grow roughly 12%.
Lamb Weston Holdings Inc. (LW - Free Report) also holds a Zacks Rank #2. The company’s EPS is projected to be up around 6.3% during the same time frame.
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