ConAgra Brands Inc. ($CAG) Stock Forecast: Down 8.0% Today

What is ConAgra Brands Inc.?

Asset ConAgra Brands Inc. (NYSE: CAG) is a food company that produces and markets a wide range of consumer food products. The company is known for brands such as Healthy Choice, Marie Callender's, and Hunt's.

Why is ConAgra Brands Inc. going down?

CAG stock is down 8.0% on Oct 2, 2024 16:36

• ConAgra Brands (CAG) witnessed a significant decline in its stock price today following the release of disappointing first-quarter results, which failed to meet analyst expectations.
• Manufacturing disruptions and sluggish sales were identified as the main factors contributing to the company's lackluster performance, resulting in a drop in both quarterly adjusted earnings per share and net sales.
• This news was met with a bearish response from the market, reflecting concerns among investors regarding ConAgra's ability to overcome these obstacles and generate stronger financial outcomes moving forward.
• Investors are expected to closely observe ConAgra's strategies to rectify manufacturing challenges and enhance sales in the coming quarters, aiming to rebuild market confidence and potentially reverse the current downward trend.

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CAG News

ConAgra Misses The Mark: Manufacturing Disruptions And Weak Sales Weigh Down Q1 Performance - Conagra Brands ( NYSE:CAG )

ConAgra Brands, Inc. CAG shares are trading lower after the company reported first-quarter results. ConAgra reported quarterly adjusted earnings per share of 53 cents, missing the analyst consensus of 60 cents. Net sales of $2.79 billion ( down 3.8% ) missed the street view of $2.84 billion.

https://www.benzinga.com/news/earnings/24/10/41140181/conagra-misses-the-mark-manufacturing-disruptions-and-weak-sales-weigh-down-q1-performance

Conagra Brands ( CAG ) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

Get a deeper insight into the potential performance of Conagra Brands (CAG) for the quarter ended August 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

https://www.zacks.com/stock/news/2342514/conagra-brands-cag-q1-earnings-preview-what-you-should-know-beyond-the-headline-estimates

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ConAgra Brands Inc. Price History

11.08.2024 - CAG Stock was down 5.1%

• The bearish movement in CAG stock today could be attributed to investors possibly choosing to exit positions due to concerns over sluggish consumption trends and elevated costs.
• Despite the recent 12% gain in the stock over the past 3 months, the underlying issues of sluggish consumption trends may have outweighed the strength of Conagra Brands' solid brands and frozen category.
• Investors might be reevaluating their positions in CAG, weighing the potential risks associated with the current market conditions against the company's brand strength and category performance.

02.09.2024 - CAG Stock was down 7.0%

• Conagra Brands (CAG) experienced a strong bearish movement today.
• The Q1 earnings preview suggests that investors may have had high expectations for the company's performance.
• It is possible that Conagra Brands (CAG) did not meet the key metrics estimated by investors, leading to a negative market reaction.
• Investors might be concerned about the company's ability to deliver strong financial results in a competitive market environment, resulting in the bearish movement of the stock.

02.09.2024 - CAG Stock was down 8.0%

• ConAgra Brands (CAG) witnessed a significant decline in its stock price today following the release of disappointing first-quarter results, which failed to meet analyst expectations.
• Manufacturing disruptions and sluggish sales were identified as the main factors contributing to the company's lackluster performance, resulting in a drop in both quarterly adjusted earnings per share and net sales.
• This news was met with a bearish response from the market, reflecting concerns among investors regarding ConAgra's ability to overcome these obstacles and generate stronger financial outcomes moving forward.
• Investors are expected to closely observe ConAgra's strategies to rectify manufacturing challenges and enhance sales in the coming quarters, aiming to rebuild market confidence and potentially reverse the current downward trend.

25.08.2023 - CAG Stock was down 1.6%

• Conagra Brands (CAG) has had a challenging year, with its stock dropping 25% year-to-date and 15% over the past 12 months.
• Despite a positive earnings surprise history, the stock has been struggling, indicating potential concerns in the company's performance.
• The slight gain in the latest trading session (+0.38%) amidst a market dip may not be enough to offset the overall bearish trend.
• The company's expectations for fiscal year 2024 may have failed to impress investors, contributing to the downward movement in the stock price.

04.03.2024 - CAG Stock was up 5.1%

• CAG exceeded earnings per share and revenue forecasts for Q3 2024, demonstrating strong financial results.
• Although organic sales declined year over year due to reduced consumption and pricing effects, the company's adjusted gross margin increased, potentially enhancing investor trust.
• The favorable earnings outcome and enhanced margins might have generated investor confidence and played a role in the upward trajectory of CAG stock today.

10.09.2023 - CAG Stock was up 5.8%

• The demand for packaged food in the US has dropped, potentially due to the introduction of the 'miracle' drug Ozempic, which may be causing consumers to be less hungry and less prone to impulse purchases.
• Conagra Brands reported weaker-than-expected sales growth, including an organic sales decline, which may have initially impacted the stock negatively.
• However, the company's Q1 earnings performance was strong, with a higher-than-expected profit and an increase in adjusted EPS, which likely contributed to the bullish movement.
• Analysts have lowered their price target for Conagra Brands, indicating some caution regarding future investments in the company. However, the overall positive Q1 performance may have outweighed this concern, leading to the bullish market movement.

05.09.2023 - CAG Stock was up 1.8%

• Conagra Brands' first-quarter adjusted earnings per share grew by 15.8% compared to the previous year, with a significant increase in adjusted operating margin.
• Net sales were flat, impacted by a decrease in volume due to industry-wide consumption slowdown and shifts in consumer behavior.
• Despite the decline in organic net sales, there was an improvement in price/mix, contributing to the overall positive performance.
• The company's Q1 earnings of $319.7 million marked a significant improvement compared to the same period last year.
• Overall, Conagra Brands' strong bullish movement can be attributed to better-than-expected earnings and improved operating margin, despite challenges in volume recovery and industry-wide consumption slowdown.

04.03.2024 - CAG Stock was up 5.2%

• Third-quarter revenue of Conagra Brands surpassed analysts' forecasts, highlighting strong demand for pantry staples and frozen food items.
• Organic net sales slightly decreased due to strategic investments and changing consumption patterns, but the Grocery & Snacks segment experienced a significant sales growth.
• The stock price of Conagra Brands surged following the company's better-than-expected performance, indicating a bullish market reaction.
• Investors likely interpreted the company's revenue outperformance as a display of strength and growth potential, thereby boosting the stock price.

04.03.2024 - CAG Stock was up 5.8%

• Conagra Brands (CAG) experienced a notable bullish trend following the release of strong third-quarter financial results that surpassed analyst expectations for revenue and earnings per share.
• The optimistic earnings report and increased earnings forecast from Levi Strauss & Co. also influenced the positive market sentiment.
• The collaboration between Palantir Technologies Inc. and Oracle in cloud computing and artificial intelligence technology possibly contributed to the favorable outlook for tech companies.
• The Nasdaq Composite's surge and the uptick in real estate stocks additionally boosted investor confidence, resulting in a robust bullish movement for Conagra Brands (CAG) and other prominent stocks.

06.09.2023 - CAG Stock was down 6.2%

• The bearish movement in CAG's stock today can be attributed to a combination of factors:
• 1. Disappointing sales: Despite reporting better-than-expected earnings and strong margin improvement, ConAgra Brands experienced a slight decrease in sales in the first quarter. This could have negatively impacted investor sentiment and contributed to the bearish movement.
• 2. Potential impact of weight-loss drug usage: Reports suggest that ConAgra Brands may revamp the portion sizes of its snacks due to the rising tide of weight-loss drug usage. This potential modification in response to changing consumer behavior trends could have raised concerns about the company's future sales and profitability.
• 3. Demand concerns: There are indications that ConAgra Brands did not meet sales forecasts for the first quarter, with multiple price increases dampening demand for its prepared meals. This tepid demand outlook for the company's products may have further fueled the bearish sentiment among investors.
• 4. Market sentiment: The overall market sentiment, as reflected by the CNN Money Fear and Greed index, remained in the "Extreme Fear" zone. This heightened fear level, coupled with anticipation for a key jobs report that could impact the Federal Reserve's interest rate decisions, may have contributed to the bearish movement in CAG's stock.

28.05.2023 - CAG Stock was down 1.5%

• The bearish movement in CAG's stock today can be attributed to several factors:
• 1. Adverse impacts of product cost inflation and rising operating costs: The company may be facing increased expenses, which could negatively affect its profitability and investor sentiment.
• 2. Rating downgrade and less bullish investment thesis: The recent downgrade in CAG's stock rating and the less bullish investment thesis could have influenced investors to sell their shares, leading to the bearish movement.
• 3. Lack of market gains: The fact that CAG's stock remained flat in the latest trading session while the overall market experienced gains might have disappointed investors, contributing to the bearish movement.
• 4. Economic concerns and recession-proof stock recommendations: The mention of investing in recession-proof stocks, including CAG, due to signals of an economic slump could have raised concerns among investors and prompted them to sell their shares.
• Overall, the combination of negative news, rating downgrade, lack of market gains, and economic concerns might have caused the bearish movement in CAG's stock today.

11.06.2024 - CAG Stock was down 2.8%

• Adjusted earnings per share for the fourth quarter exceeded analyst expectations, but revenue fell below estimates.
• Despite beating earnings projections, the lower revenue figures possibly influenced the stock's bearish trend.
• Recent analyses have raised concerns among analysts and investors regarding factors hindering growth for Conagra Brands.
• The stock's downward trend today could be attributed to the company's mixed performance in light of current market conditions.