Conagra Brands is another winner during the COVID-19 pandemic economy

Sticking with the winners that benefited from the lifestyle changes as a result of the COVID-19 pandemic. This one is Conagra Brands [stock_quote symbol=”CAG”]. Conagra stock has gained more than 8% since the beginning of the year and that is not for no reason. Conagra belongs to the consumer defense sector and is benefiting from the lifestyle changes which were enforced on people via the COVID-19 pandemic and the regulations that came with it. Restaurants closures and the restrictions on eating outside, since the pandemic started, had put pressure on people to change their lifestyles.

If you are one of those people, like me, who used to eat out most of the time before the pandemic and now rely totally on cooking at home or on frozen food from the grocery store, then you possibly have tried some of Conagra Brands already. The frozen food isle at your favorite grocery store is loaded with brands that belong to Conagra. Healthy Choice, P.F. Chang and Birds Eye are some of my favorite from Conagra. With different varieties and the ease of preparation these frozen food items are selling like hot cakes and that is not going to cool off anytime soon with most restaurants are still operating under restrictions and with many others went out of business. Not to mentions that people in general are still wary of eating out and prefer to cook at home.

The frozen food items are considered the first alternative to eating at a restaurant. They are easier than cooking, faster and nowadays can be as healthy as cooking from scratch. Many of these brands do not use any processed food items but rather use unprocessed whole food. Moreover, many contain vegetables and other healthy items like quinoa.

There are many other packaged food companies that are benefiting from this panemic economy such as The Kraft Heinz Company [stock_quote symbol=”KHC”] and B&G Foods Inc. [stock_quote symbol=”BGS”]. At current price CAG is paying about 2.3% dividend for its shareholders, KHC is paying about 4.5% and BGS dividend is about 7.4%.

The expectations are that this trend will continue for the time being and it will benefit these packaged foods companies.

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