April 4 (Reuters) - Conagra Brands ( CAG ) topped Wall

Street estimates for third-quarter revenue and profit on

Thursday, as demand for its pantry staples and frozen food items

recovered with more consumers looking to cook meals at home in

the face of sticky inflation.

Shares of the Slim Jim beef jerky maker rose about 4% before

the bell after the company also raised its annual adjusted

operating margin forecast and said its cost-saving attempts were

paying off.

Conagra has veered towards lowering prices in some

categories such as its refrigerated and frozen foods segment,

and increasing promotions to appeal to budget-conscious

consumers.

Packaged food companies have been looking to stem the fall

in volumes, which have been battered in recent times due to

consistent price hikes.

Conagra reported a 1.8% decrease in total volumes in the

quarter, less than the 2.9% drop in the preceding three-month

period.

Volumes in its grocery and snacks segment fell 0.8%,

compared with a 3.7% decrease in the second quarter.

Easing supply chain concerns have also helped counter the

impact from waning price hike benefits. Conagra raised its

annual operating margin forecast to 15.8% from 15.6%.

"The efficiency of our operations in Q3 resulted in cost

savings that enabled us to fund investment while maintaining

gross margin," said CFO Dave Marberger in a statement.

The Healthy Choice-parent's net sales were $3.03 billion for

the quarter ended Feb. 25, beating analysts' average estimate of

$3.01 billion, according to LSEG data.

Excluding items, the company posted third-quarter profit of

69 cents per share, topping the Street estimate of 65 cents.