Conagra Brands, Inc. (CAG), headquartered in Chicago, Illinois, operates as a consumer-packaged goods food company. Valued at $6.7 billion by market cap, the company offers meals, entrees, condiments, sides, snacks, specialty potatoes, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors.
Shares of this packaged food company have notably underperformed the broader market over the past year. CAG has declined 39.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 31.4%. In 2026, CAG stock is down 18.7%, compared to the SPX’s 7.6% rise on a YTD basis.
Narrowing the focus, CAG’s underperformance is also apparent compared to First Trust Nasdaq Food & Beverage ETF (FTXG). The exchange-traded fund has fallen marginally over the past year. Moreover, the ETF’s 7.4% gains on a YTD basis outshine the stock’s double-digit losses over the same time frame.
On Apr. 1, CAG shares closed down by 1.3% after reporting its Q3 results. Its revenue was $2.79 billion, surpassing analyst estimates of $2.76 billion. The adjusted EPS of $0.39 missed analyst expectations by 2.6%.
For the current fiscal year, ending in May, analysts expect CAG’s EPS to decline 26.1% to $1.70 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters while missing the forecast on two other occasions.
Among the 17 analysts covering CAG stock, the consensus is a “Hold.” That’s based on one “Strong Buy” rating, 13 “Holds,” one “Moderate Sell,” and two “Strong Sells.”
This configuration is less bullish than a month ago, with two analysts suggesting a “Strong Buy.”
On Apr. 23, Morgan Stanley (MS) analyst Megan Alexander Clapp kept an “Equal Weight” rating on CAG and lowered the price target to $15, implying a potential upside of 6.6% from current levels.
The mean price target of $15.67 represents an 11.4% premium to CAG’s current price levels. The Street-high price target of $18 suggests a notable upside potential of 27.9%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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