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Birthday : 08/11/1957
Place of birth : Tosu - Japan
Biography : Mr. Masayoshi Son is Chairman at Sprint Corp., Chairman at SoftBank Corp., President, CEO, Represent
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ConAgra Foods stock seen rising 30 percent: Barron's

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05/29/2016 | 09:11pm CEST
ConAgra Foods production facility is seen in Oakdale

ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in its latest online edition.

After ConAgra sold its Spicetec Flavors & Seasonings for about $340 million to Givaudan last week, Barron's said analysts speculate it might consider sales of other brands including Lamb Weston, its commercial frozen potato business.

Without Lamb Weston, the Omaha-based company would remain the second biggest U.S. frozen entree producer and top maker of shelf-stable meals with $9 billion in annual revenue, the paper said.

Analysts expect ConAgra's revenue to fall to $11.7 billion in fiscal 2016 following the sale of its private-label food business to Treehouse Foods for $2.7 billion. This compared with $15.83 billion the prior fiscal year.

ConAgra CEO Sean Connolly, who took over the post last April, might be preparing ConAgra for sale, Barron's said. Connolly aims to cut $300 million in annual costs, which make up of $200 million in selling, general and administrative expenses and $100 million in ineffective trade promotions, the business weekly said.

ConAgra carries a hefty price tag. Its current market capitalization was nearly $19.8 billion on Friday when its shares closed down 0.4 percent at $45.29.

"But with Lamb Weston gone and his new strategy kicking in, the food giant might be a tasty target," Barron's said.

(Reporting by Richard Leong; Editing by Nick Zieminski)

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Latest news about Masayoshi Son 
2015 MASAYOSHI SON : Son says vice chairman Arora a strong future candidate to lead SoftBank
2014 MASAYOSHI SON : SoftBank's first Sony smartphone deal takes aim at U.S. market
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2014 MASAYOSHI SON : SoftBank to start selling personal robots next year
2013 MASAYOSHI SON : Third point has made no management proposals to SoftBank
2013 MASAYOSHI SON : SoftBank's Son buys Tokyo Tiffany building for $326 million -sources
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2013 MASAYOSHI SON : Softbank on track to complete Sprint acquisition by July
2013 MASAYOSHI SON : SoftBank to meet Sprint investors, many eye higher bid
2013 MASAYOSHI SON : Ergen puts chips on Sprint in latest wireless bet
2012 MASAYOSHI SON : Raine Group arrives in big way as Softbank's adviser
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