Conagra Brands (CAG)

• Market cap: $12.7B
• 1 day: -2.73%
• 5 days: -6.25%
• 1 month: -9.74%
• 3 months: -11.50%
• 6 months: -12.23%
• Year to date: -9.58%
• 1 year: -5.15%
• 5 years: -7.32%
• 10 years: -23.61%
• Sector: Consumer Staples
• Industry: Food & Kindred Products

About: Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of fiscal 2024 revenue). Most of its revenue comes from frozen food, including brands like Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Conagra also sells snacks, shelf-stable staples, and refrigerated food through brands like Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, and Chef Boyardee. The company primarily sells through the us retail channel, with just 9% of fiscal 2024 revenue coming from international markets and 10% from foodservice.

Employees: 18,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

133% more call options, than puts

Call options by funds: $140M | Put options by funds: $59.8M

9% more capital invested

Capital invested by funds: $11.9B [Q2] → $13B (+$1.09B) [Q3]

9% less first-time investments, than exits

New positions opened: 109 | Existing positions closed: 120

1% less funds holding

Funds holding: 851 [Q2] → 840 (-11) [Q3]

4.04% less ownership

Funds ownership: 87.64% [Q2] → 83.61% (-4.04%) [Q3]

11% less repeat investments, than reductions

Existing positions increased: 280 | Existing positions reduced: 315

33% less funds holding in top 10

Funds holding in top 10: 3 [Q2] → 2 (-1) [Q3]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $29 9% upside
• Avg. target: $32 19% upside
• High target: $34 27% upside

4 analyst ratings

• positive: 0 0%
• neutral: 4 100%
• negative: 0 0%

Wells Fargo Chris Carey 46% 1-year accuracy 13 / 28 met price target	16% upside $31	Equal-Weight Maintained	17 Oct 2024
B of A Securities Bryan Spillane 56% 1-year accuracy 10 / 18 met price target	24% upside $33	Neutral Maintained	3 Oct 2024
RBC Capital Nik Modi 40% 1-year accuracy 17 / 42 met price target	9% upside $29	Sector Perform Reiterated	3 Oct 2024
B of A Securities Bryan Spillane 56% 1-year accuracy 10 / 18 met price target	27% upside $34	Neutral Maintained	17 Sept 2024