Key Stats for Conagra Stock
- Price Change for $CAG stock: 5.4%
- Current Share Price: $19.30
- 52-Week High: $30.47
- $CAG Stock Price Target: $20.58
What Happened?
Conagra Brands (CAG) stock jumped over 5% on Wednesday after the food company reported better-than-expected results for its fiscal first quarter of 2026.
While revenue declined 6% year over year to $2.63 billion, the figure still topped Wall Street’s forecast of $2.61 billion. The sales drop primarily resulted from recent asset sales, including those of the Chef Boyardee, Van de Kamp’s, and Mrs. Paul’s brands.
Adjusted earnings per share landed at $0.39, beating analyst estimates of $0.33 by 18%. Management highlighted improved service levels and strong consumer demand for the company’s frozen meals and protein snacks as key bright spots in an otherwise challenging quarter.
The broader market was mostly flat on Wednesday, with the S&P 500 up just 0.3%, making Conagra’s rally stand out even more.
See analysts’ growth forecasts and price targets for Conagra stock (It’s free!) >>>
What the Market Is Telling Us About Conagra Stock
The strong stock reaction to CAG stock suggests investors care more about execution than absolute revenue growth right now.
Conagra has been dealing with supply chain disruptions over the past year, and achieving service levels of 98% was a key milestone the market wanted to see.
CEO Sean Connolly highlighted momentum in frozen meals and snacks, two categories that comprise approximately 70% of the company’s retail business.
New product launches, such as Dolly Parton-branded frozen meals, are performing well, and promotional activity is ramping back up after being curtailed due to supply issues.
The company also reaffirmed its full-year guidance, expecting organic sales to be flat to up 1% and adjusted earnings per share between $1.70 and $1.85.
With inflation still running hot and tariffs adding pressure, management’s confidence in hitting these targets gave investors comfort that the worst is behind them.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
