Conagra BrandsCAG
Market Cap: $15.7B
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 Q2 SEC filings by fund managers ($100M+ AUM)
50% more funds holding in top 10
Funds holding in top 10: 2 [Q1] → 3 (+1) [Q2]
25% more first-time investments, than exits
New positions opened: 120 | Existing positions closed: 96
22% more repeat investments, than reductions
Existing positions increased: 320 | Existing positions reduced: 262
16% more call options, than puts
Call options by funds: $69.6M | Put options by funds: $60.2M
3% more funds holding
Funds holding: 825 [Q1] → 849 (+24) [Q2]
0.35% more ownership
Funds ownership: 85.56% [Q1] → 85.92% (+0.35%) [Q2]
4% less capital invested
Capital invested by funds: $12.1B [Q1] → $11.7B (-$456M) [Q2]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Goldman Sachs Leah Jordan 75% 1-year accuracy 3 / 4 met price target | 10%upside $36 | Buy Initiated | 12 Aug 2024 |
Barclays Andrew Lazar 75% 1-year accuracy 12 / 16 met price target | 1%upside $33 | Overweight Maintained | 12 Jul 2024 |
RBC Capital Nik Modi 58% 1-year accuracy 22 / 38 met price target | 11%downside $29 | Sector Perform Maintained | 12 Jul 2024 |
Evercore ISI Group David Palmer 55% 1-year accuracy 11 / 20 met price target | 5%downside $31 | Neutral Maintained | 12 Jul 2024 |
Stifel Matthew Smith 61% 1-year accuracy 20 / 33 met price target | 8%downside $30 | Hold Maintained | 12 Jul 2024 |
Financial journalist opinion
Based on 9 articles about CAG published over the past 30 days