Investopedia: ConAgra Reheats Some Leftovers

Are share buybacks a prudent return of capital back to its real owners, or a way for a management lacking in ideas and creativity to give the appearance of "doing something" and appease the Street? It's a relevant question when looking at ConAgra (NYSE:CAG), as this company has long been a laggard, and management seems slow to address many of the fundamental issues plaguing the company. There are fixable problems at ConAgra, but is this a management that can fix them?

Encouraging Second Quarter Results  
ConAgra reported 8% revenue growth for the fiscal second quarter, more or less matching the top end of the analyst range. Growth in the consumer business came in at over 4%, with solid mid-single digit price growth offsetting a small volume decrease. Commercial sales were considerably better, up 16% as price rose at a low-teens rate and volume posted a slight increase. ConAgra's commercial business has been stronger lately, though that needs to be seen in the context of prior underperformance. (Find out what these company programs achieve and what it means for stockholders. For more, see A Breakdown Of Stock Buybacks.)

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