Analyst Consensus ?
ConsensusHold24 ratings
Bullish625.0%
Neutral1458.3%
Bearish416.7%
Conagra Brands, Inc. · CAG · FY2025 Q1 · Calendar Q4 2024
Conagra highlights protein snacks and frozen-food momentum
Conagra's Q1 FY2025 discussion supports a cautiously constructive operating thesis: demand in protein-oriented snacks and frozen meals was resilient, and portfolio reshaping may concentrate the business on higher-margin areas. The counterweights are the Hebrew National disruption, higher beef and sweetener costs, negative near-term price/mix, and uncertainty around promotional spending and foodservice demand.
Reported Before market openNYSEConsumer Defensive
$6.77B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.53
Consensus $0.59
EPS surprise
-10.2%
Reported versus consensus
Reported revenue
$2.79B
Consensus $2.84B
Revenue surprise
-1.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-8.1%
Event window
SPY move
+0.0%
Same window
Abnormal move
-8.1%
Stock minus SPY
Volume
4.0×
Versus trailing sessions
Subsequent drift
-2.2%
Up to 20 sessions
CAGSPY benchmark
Ask FN2 about CAG FY2025 Q1
Transcript, numbers and history already loaded
Why did CAG fall 8.1% after missing EPS estimates in FY2025 Q1?What changed in CAG's guidance and outlook in FY2025 Q1?Give me the bull and bear case for CAG after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter added emphasis on meat-stick growth and frozen-meal convenience, while management disclosed the Hebrew National disruption and higher beef and sweetener inflation. The company also highlighted the FATTY acquisition and continued portfolio reshaping; full-year guidance was maintained.
Guidance delta
Maintained; management held full-year guidance steady despite modestly higher inflation pressure.
Key takeaways
- Management said protein- and fiber-rich snacks are outpacing traditional chips, with meat sticks the fastest-growing subsegment.
- Frozen meals remain a long-term growth engine as consumers seek convenience, supported by targeted promotions and shelf-edge displays.
- The Hebrew National disruption caused $27 million of lost sales and $11 million of lost profit in Q1.
- Portfolio reshaping continued through the FATTY acquisition and disciplined divestitures, while management retained its leverage and cash-flow focus.
Management priorities
- Integrate and expand the FATTY meat-stick portfolio.
- Pursue additional bolt-on acquisitions in snacks and frozen while divesting slower-growth assets.
- Increase promotional activity in Q2, especially frozen end-cap displays.
- Work toward a 3.0x leverage target while maintaining strong cash-flow generation.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$14.3Current
$12Low
$23.78Average
$43High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 16, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Oct 2, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Oct 1, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 1, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 18, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 16, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 16, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 5, 2026 |
| Bernstein | Underperform | Market Perform | Downgrade | Jun 3, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | May 18, 2026 |
| Stifel | Hold | Hold | Maintain | Apr 21, 2026 |
| BNP Paribas | Neutral | Outperform | Downgrade | Apr 9, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Apr 2, 2026 |
| TD Cowen | Hold | Hold | Maintain | Dec 22, 2025 |
| B of A Securities | Underperform | Underperform | Maintain | Dec 22, 2025 |
| Jefferies | Hold | Hold | Maintain | Dec 12, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Jun 28, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Mar 31, 2023 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | May 11, 2020 |
| CFRA | Strong Buy | Buy | Upgrade | Mar 12, 2020 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Oct 30, 2017 |
| Bank of America | Buy | Neutral | Upgrade | Feb 12, 2016 |
| Keybanc | Hold | Buy | Downgrade | Jun 18, 2014 |
| S&P Capital IQ | Buy | Strong Buy | Downgrade | Dec 19, 2013 |
| Edward Jones | Buy | Hold | Upgrade | Dec 13, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $14.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $14 | $13.46 | -2.1% | Oct 1, 2026 |
| Evercore ISI | Analyst unavailable | $13 | $14.16 | -9.1% | Sep 29, 2026 |
| Deutsche Bank | Steve Powers | $13 | $15.12 | -9.1% | Sep 18, 2026 |
| Evercore ISI | Analyst unavailable | $12.5 | $14.61 | -12.6% | Sep 14, 2026 |
| UBS | Peter Grom | $14 | $14.44 | -2.1% | Jul 16, 2026 |
| RBC Capital | Analyst unavailable | $14 | $14.28 | -2.1% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $16 | $14.04 | +11.8% | Jul 8, 2026 |
| RBC Capital | Analyst unavailable | $16 | $13.89 | +11.8% | Jun 25, 2026 |
| Deutsche Bank | Steve Powers | $12 | $13.16 | -16.1% | Jun 18, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $13 | $12.66 | -9.1% | Jun 5, 2026 |
| Coker Palmer | Thomas Palmer | $14 | $12.66 | -2.1% | Jun 5, 2026 |
| Bernstein | Analyst unavailable | $12 | $12.86 | -16.1% | Jun 3, 2026 |
| UBS | Peter Grom | $13 | $12.92 | -9.1% | Jun 2, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $15 | $14.53 | +4.9% | Apr 23, 2026 |
| Stifel Nicolaus | Analyst unavailable | $15 | $14.84 | +4.9% | Apr 21, 2026 |
| BNP Paribas | Analyst unavailable | $16 | $15.55 | +11.8% | Apr 9, 2026 |
| Wells Fargo | Chris Carey | $15 | $16.98 | +4.9% | Mar 12, 2026 |
| UBS | Analyst unavailable | $20 | $19.52 | +39.8% | Feb 13, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $18 | $17.38 | +25.8% | Jan 16, 2026 |
| Wells Fargo | Analyst unavailable | $18 | $17.05 | +25.8% | Jan 5, 2026 |
| Bernstein | Alexia Howard | $18 | $17.48 | +25.8% | Dec 29, 2025 |
| UBS | Peter Grom | $18 | $17.26 | +25.8% | Dec 23, 2025 |
| Deutsche Bank | Steve Powers | $18 | $17.3 | +25.8% | Dec 22, 2025 |
| Morgan Stanley | Analyst unavailable | $19 | $17.36 | +32.8% | Dec 22, 2025 |
| Evercore ISI | David Palmer | $22 | $17.36 | +53.8% | Dec 22, 2025 |
| RBC Capital | Analyst unavailable | $20 | $17.35 | +39.8% | Dec 22, 2025 |
| RBC Capital | Nik Modi | $22 | $17.74 | +53.8% | Dec 17, 2025 |
| Wells Fargo | Analyst unavailable | $19 | $17.83 | +32.8% | Dec 12, 2025 |
| Jefferies | Analyst unavailable | $18 | $17.6 | +25.8% | Dec 11, 2025 |
| Stifel Nicolaus | Analyst unavailable | $19 | $17.44 | +32.8% | Dec 11, 2025 |
| Goldman Sachs | Analyst unavailable | $16 | $17.52 | +11.8% | Nov 25, 2025 |
| Wells Fargo | Chris Carey | $20 | $19.3 | +39.8% | Oct 2, 2025 |
| Morgan Stanley | Megan Alexander Clapp | $20 | $19.4 | +39.8% | Jul 11, 2025 |
| Bernstein | Alexia Howard | $21 | $19.4 | +46.8% | Jul 11, 2025 |
| Morgan Stanley | Megan Alexander | $22 | $20.52 | +53.8% | Jul 7, 2025 |
| Evercore ISI | David Palmer | $26 | $20.99 | +81.8% | Jul 7, 2025 |
| Jefferies | Rob Dickerson | $30 | $32.31 | +109.7% | Sep 24, 2024 |
| Coker Palmer | Thomas Palmer | $33 | $32.31 | +130.7% | Sep 24, 2024 |
| Goldman Sachs | Leah Jordan | $36 | $29.82 | +151.7% | Aug 12, 2024 |
| Stifel Nicolaus | Matthew Smith | $30 | $28.38 | +109.7% | Jul 12, 2024 |
| Barclays | Andrew Lazar | $34 | $31.09 | +137.7% | Apr 8, 2024 |
| Wells Fargo | Chris Carey | $32 | $30.64 | +123.7% | Apr 5, 2024 |
| Stifel Nicolaus | Matthew Smith | $32 | $30.64 | +123.7% | Apr 5, 2024 |
| Coker Palmer | Thomas Palmer | $32 | $30.64 | +123.7% | Apr 5, 2024 |
| Morgan Stanley | Pamela Kaufman | $32 | $30.64 | +123.7% | Apr 5, 2024 |
| CFRA | Arun Sundaram | $34 | $30.64 | +137.7% | Apr 4, 2024 |
| Evercore ISI | David Palmer | $32 | $29.06 | +123.7% | Apr 4, 2024 |
| RBC Capital | Nik Modi | $29 | $29.58 | +102.7% | Apr 1, 2024 |
| Stifel Nicolaus | Matthew Smith | $43 | $35.96 | +200.6% | May 19, 2023 |
| Deutsche Bank | Steve Powers | $35 | $35.52 | +144.7% | Mar 20, 2023 |
| RBC Capital | Conagra Brands | $38 | $40.58 | +165.6% | Jan 6, 2023 |
| J.P. Morgan | Analyst unavailable | $43 | $41 | +200.6% | Jan 6, 2023 |
| Morgan Stanley | Analyst unavailable | $48 | $40.5 | +235.5% | Jan 6, 2023 |
| UBS | Analyst unavailable | $45 | $40.66 | +214.6% | Jan 6, 2023 |
| Credit Suisse | Analyst unavailable | $40 | $39.97 | +179.6% | Jan 6, 2023 |
| Evercore ISI | Analyst unavailable | $42 | $38.77 | +193.6% | Dec 29, 2022 |
| Morgan Stanley | Pamela Kaufman | $45 | $38.49 | +214.6% | Dec 20, 2022 |
| Deutsche Bank | Steve Powers | $34 | $38.25 | +137.7% | Dec 6, 2022 |
| UBS | Cody Ross | $41 | $35.81 | +186.6% | Nov 18, 2022 |
| BNP Paribas | Analyst unavailable | $42 | $33.91 | +193.6% | Nov 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $34 | $33.83 | +137.7% | Jul 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $36 | $35.11 | +151.7% | Jan 14, 2022 |
| Citigroup | Wendy Nicholson | $37 | $32.96 | +158.7% | Jul 14, 2021 |
| Stifel Nicolaus | Christopher Growe | $35 | $32.96 | +144.7% | Jul 14, 2021 |
| Barclays | Andrew Lazar | $39 | $32.96 | +172.6% | Jul 14, 2021 |
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Start freeCompany context
Snapshot as of publicationConagra Brands, Inc., a prominent manufacturer of packaged food products, conducts its business across North America through its various subsidiary companies. The firm organizes its extensive operations into four distinct segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks division primarily distributes non-perishable food items through various retail channels within the United States. In contrast, the Refrigerated & Frozen segment focuses on supplying temperature-sensitive food products to comparable U.S. retail outlets.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-16T15:00:43.131380+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T15:00:43.128547+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-16. For educational purposes only; not investment advice.