Dernières nouvelles pour Conagra Brands (NYSE:CAG) Stock

Conagra Brands

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.

Conagra Brands Inc

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Castle Group Inc

Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-10-02. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Conagra Brands will report an earnings per share (EPS) of $0.59.
The market awaits Conagra Brands's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Overview of Past Earnings</h3>
Last quarter the company beat EPS by $0.04, which was followed by a 0.11% drop in the share price the next day.
Here's a look at Conagra Brands's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.57</td>
<td>0.65</td>
<td>0.68</td>
<td>0.60</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.61</td>
<td>0.69</td>
<td>0.71</td>
<td>0.66</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.0%</td>
<td>1.0%</td>
<td>-2.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1727794941_0.png" alt="eps graph" />
<h3>Market Performance of Conagra Brands's Stock</h3>
Shares of Conagra Brands were trading at $32.52 as of September 30. Over the last 52-week period, shares are up 23.46%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on Conagra Brands</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Conagra Brands.
With 7 analyst ratings, Conagra Brands has a consensus rating of Neutral. The average one-year price target is $32.0, indicating a potential 1.6% downside.
<h3>Comparing Ratings Among Industry Peers</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Campbell Soup, Hormel Foods and JM Smucker, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>As per analysts' assessments, Campbell Soup is favoring an Neutral trajectory, with an average 1-year price target of $50.33, suggesting a potential 54.77% upside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for Hormel Foods, with an average 1-year price target of $37.0, implying a potential 13.78% upside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for JM Smucker, with an average 1-year price target of $128.57, implying a potential 295.36% upside.</li>
</ul>
<h3>Analysis Summary for Peers</h3>
The peer analysis summary outlines pivotal metrics for Campbell Soup, Hormel Foods and JM Smucker, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Conagra Brands</td>
<td>Neutral</td>
<td>-2.27%</td>
<td>$804.90M</td>
<td>-6.45%</td>
</tr>
<tr>
<td>Campbell Soup</td>
<td>Neutral</td>
<td>10.88%</td>
<td>$675M</td>
<td>-0.08%</td>
</tr>
<tr>
<td>Hormel Foods</td>
<td>Buy</td>
<td>-2.19%</td>
<td>$488.37M</td>
<td>2.24%</td>
</tr>
<tr>
<td>JM Smucker</td>
<td>Buy</td>
<td>17.72%</td>
<td>$797.20M</td>
<td>2.39%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Conagra Brands ranks at the bottom for Revenue Growth and Gross Profit among its peers. It is in the middle for Return on Equity.
<h3>Delving into Conagra Brands's Background</h3>
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.
<h3>Conagra Brands: Delving into Financials</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Conagra Brands's revenue growth over a period of 3 months has faced challenges. As of 31 May, 2024, the company experienced a revenue decline of approximately -2.27%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Staples sector.
Net Margin: Conagra Brands's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -19.52%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Conagra Brands's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -6.45%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Conagra Brands's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.65%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a high debt-to-equity ratio of 1.02, Conagra Brands faces challenges in effectively managing its debt levels, indicating potential financial strain.
<a href="https://www.benzinga.com/quote/CAG/earnings">To track all earnings releases for Conagra Brands visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Outlook For Conagra Brands

B of A Securities analyst Bryan Spillane maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Neutral and raises the price target from $31 to $34.

News

Price Target

Analyst Ratings

B of A Securities Maintains Neutral on Conagra Brands, Raises Price Target to $34

WIIM

EAST

SENEB

Shares of food stocks are trading lower after August's CPI report showed a slowing in the rise of food at home costs.

Conagra Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) short percent of float has fallen 15.23% since its last report. The company recently reported that it has 14.43 million shares sold short, which is 3.45% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Conagra Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725628516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Conagra Brands has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Conagra Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Conagra Brands's peer group average for short interest as a percentage of float is 4.19%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

How Is The Market Feeling About Conagra Brands?

Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>) remains focused on transforming into a branded, pure-play consumer packaged goods food organization. The company looks forward to enlarging its food businesses, buoyed by innovation and organic growth, along with expansion into adjacent categories, comprising acquisitions. It has also been making divestitures to boost its overall portfolio.
In the latest development, the company revealed that it has concluded its earlier announced transaction regarding the divestiture of its 51.8% ownership stake in Agro Tech Foods Limited.
<h2>The Latest Divestiture to Boost CAG&#39;s Portfolio</h2>
Management informed that all the conditions for the sale (by one of its subsidiaries) of its 51.8% interest in Agro Tech Foods, which is an Indian-based food company, have been fulfilled. CAG intended to sell this stake in the second quarter of fiscal 2024.
The completion highlights an important strategic move to redesign Conagra&#39;s portfolio in a bid to enrich shareholders&#39; value. This is a majority-owned subsidiary consolidated within the company&#39;s International segment. Post the sale, Agro Tech Foods&#39; results will no longer be consolidated in CAG&#39;s financial statements.
<h2>Conagra&#39;s Other Strategic Moves</h2>
Prudent innovations have been helping the company to modernize its portfolio and meet consumers&#39; changing needs. It maintains its focus on investing in innovation, considering it the primary asset in its strategic approach and essential for enhancing its brands and fostering sustainable growth.
The company&#39;s actions, focused on re-engaging consumers with existing products and introducing them to new innovations, give it confidence in driving momentum through multifaceted brand-building investments. Conagra has been making advertising investments in major brands like Birds Eye and Healthy Choice, showcasing its commitment to building and promoting through innovative campaigns.
Conagra has been experiencing solid momentum in the International business. Segment net sales increased 6.4% year over year in fourth-quarter fiscal 2024, reflecting higher organic net sales and positive currency effects. Organic sales growth was driven by volumes, which rose 4.1% due to strength in Mexico and the global export business. The Mexico business has been witnessing volume growth for the past few quarters now. The continuation of these trends will continue to bolster the&nbsp; International unit.
Conagra has been seeing market share gains in the key frozen and snacks categories.&nbsp; The strength of the frozen category reflects the forte of its brands and the effective execution of the Conagra Way playbook. Conagra has made several investments in the innovation of key brands of the frozen business, which are yielding a favorable response. It has been seeing unit share gains in frozen sides, frozen single-serve meals and frozen vegetables.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c6/75986.jpg?v=1942463570" />
Image Source: Zacks Investment Research
<h2>Challenges CAG is Facing Now</h2>
Despite the positives, Conagra is not immune to the operating challenges. The company has been witnessing tough industry trends, including a slowdown in consumption. During the fiscal fourth quarter, volumes dropped 1.8% year over year due to the continuation of the industry-wide slowdown in consumption and the recent changes in consumer behavior. Industry-wide macroeconomic challenges have adversely impacted consumer purchasing patterns.
The company has also been struggling with cost inflation for a while now, though the trend has been moderating of late. In the fiscal fourth quarter, the adjusted gross margin was partly hurt by the inflated cost of goods sold, soft organic sales and adverse operating leverage. The company anticipates cost of goods sold inflation to continue in the next fiscal year.
CAG&#39;s Foodservice unit has been under pressure due to sluggish consumption trends, reflecting broader industry challenges. The segment&#39;s organic sales declined 3.9% year over year in the fiscal fourth quarter. The persistence of this trend remains a concern as the segment continues to navigate a tough operating environment with ongoing pressures on consumer demand and dining-out behavior.
<h2>What&#39;s Next for CAG&#39;s Investors?</h2>
Despite the operating challenges, this Zacks Rank #4 (Sell) company&#39;s shares have been performing well on the bourses. CAG stock has gained 8.2% over the past three months compared with the industry&#39;s 3.1% growth.
The company has also been making prudent moves to tackle the operating challenges. Potential investors should weigh these hurdles carefully, as volatile consumer behavior and cost inflation cannot be ignored. However, the latest divestiture should help maintain the stock&#39;s solid performance in the near term.
<h2>Stocks to Consider</h2>
Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>), a pet food company, has a trailing four-quarter average earnings surprise of 118.2%. FRPT currently sports a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Freshpet&#39;s current financial-year sales and earnings per share indicates growth of 24.8% and 177.1%, respectively, from the prior-year reported levels.
Vital Farms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>), which provides pasture-raised products, currently sports a Zacks Rank of 1. The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and EPS indicates growth of 24.9% and 66.1%, respectively, from the prior-year reported levels.
VITL has a trailing four-quarter earnings surprise of 102.1%, on average.
Post Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/post#NYSE">POST</a>), a consumer-packaged goods company, is involved in the production of refrigerated, foodservice and nutrition product categories. It currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for POST&#39;s current financial-year sales and EPS indicates growth of 14.2% and 6.9%, respectively, from the year-ago reported figures.
<a href="https://www.zacks.com/stock/news/2329170/how-will-the-sale-of-51-8-interest-in-agro-tech-foods-aid-cag-stock?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2329170">To read this article on Zacks.com click here.</a>

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How Will the Sale of 51.8% Interest in Agro Tech Foods Aid CAG Stock?

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>. 
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
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<h3 class="wp-block-heading">Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)</h3>
<ul>
<li>Dividend Yield: 9.62%</li>
<li>UBS analyst Kevin Caliendo maintained a Neutral rating and cut the price target from $17 to $12 on July 3. This analyst has an accuracy rate of 73%.</li>
<li>RBC Capital analyst Ben Hendrix maintained a Sector Perform rating and slashed the price target from $22 to $13 on July 2. This analyst has an accuracy rate of 73%.</li>
<li>Recent News: On Aug. 19, Walgreens and BARDA formed a strategic partnership to strengthen decentralized clinical trials model and reporting.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1"> latest WBA news. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="782" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080411/image-193.png" alt="" class="wp-image-508433" style="width:629px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080411/image-193.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080411/image-193-300x262.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080411/image-193-768x670.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
<h3 class="wp-block-heading">Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>)</h3>
<ul>
<li>Dividend Yield: 4.55%</li>
<li>Evercore ISI Group analyst David Palmer maintained a Neutral rating and cut the price target from $32 to $31 on July 12. This analyst has an accuracy rate of 65%.</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and lowered the price target from $32 to $31 on July 10. This analyst has an accuracy rate of 66%.</li>
<li>Recent News: On July 11, ConAgra reported worse-than-expected fourth-quarter sales results.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1">breakout in CAG shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="877" height="826" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080719/image-194.png" alt="" class="wp-image-508447" style="width:685px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080719/image-194.png 877w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080719/image-194-300x283.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080719/image-194-768x723.png 768w" sizes="(max-width: 877px) 100vw, 877px" /></a></figure>
<h3 class="wp-block-heading">Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>)</h3>
<ul>
<li>Dividend Yield: 4.33%</li>
<li>Barclays analyst Gaurav Jain maintained an Overweight rating and raised the price target from $110 to $130 on Aug. 14. This analyst has an accuracy rate of 66%.</li>
<li>JP Morgan analyst Jared Dinges maintained an Overweight rating and increased the price target from $110 to $125 on July 25. This analyst has an accuracy rate of 64%.</li>
<li>Recent News: On July 23, Philip Morris International reported better-than-expected second-quarter FY24 earnings and raised the adjusted EPS outlook.</li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1">PM&#8217;s earnings reports.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="877" height="811" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080925/image-195.png" alt="" class="wp-image-508453" style="width:653px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080925/image-195.png 877w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080925/image-195-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22080925/image-195-768x710.png 768w" sizes="(max-width: 877px) 100vw, 877px" /></a></figure>
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Dividends

Pre-Market Outlook

Wall Street's Most Accurate Analysts Spotlight On 3 Defensive Stocks Delivering High-Dividend Yields

The Nasdaq 100 closed higher by around 0.1% during Wednesday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Conagra Brands</h3>
<ul>
<li>The Trade: Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) EVP and COO Thomas M McGough <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $30.29. The insider received around $1.2 million from selling those shares.</li>
<li>What's Happening: On Aug. 12, Goldman Sachs analyst Leah Jordan initiated coverage on Conagra Brands with a Buy rating and announced a price target of $36.</li>
<li>What Conagra Brands Does: Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of fiscal 2024 revenue).</li>
</ul>
<h3 class="wp-block-heading">T-Mobile US</h3>
<ul>
<li>The Trade: T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) President and CEO G Michael Sievert <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $194.82. The insider received around $7.8 million from selling those shares.</li>
<li>What's Happening: On Aug. 12, Tigress Financial analyst Ivan Feinseth maintained T-Mobile with a Buy and raised the price target from $205 to $235.</li>
<li>What T-Mobile US Does: Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, and that firm merged with Sprint in 2020, creating the second-largest wireless carrier in the us T-Mobile now serves 77 million postpaid and 21 million prepaid phone customers, equal to around 30% of the us retail wireless market.</li>
</ul>
<h3 class="wp-block-heading">Upstart</h3>
<ul>
<li>The Trade: Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) CFO Sanjay Datta <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,500 share</a>s at an average price of $35.39. The insider received around $53,085 from selling those shares.</li>
<li>What's Happening: On Aug. 6, Upstart reported better-than-expected second-quarter financial results.</li>
<li>What Upstart Does: Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform.</li>
</ul>
<h3 class="wp-block-heading">Pfizer</h3>
<ul>
<li>The Trade: Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) SVP and Controller Jennifer B. Damico s<a href="https://www.benzinga.com/sec/insider-trades/">old a total of 5,154 shares</a> at an average price of $28.66. The insider received around $147,714 from selling those shares.</li>
<li>What's Happening: On Aug. 12, Pfizer released top-line safety and immunogenicity results from substudy B of the ongoing pivotal MONeT Phase 3 trial,evaluating two doses of Abrysvo vaccine in immunocompromised adults aged 18 and older at risk of developing severe respiratory syncytial virus-associated lower respiratory tract disease.</li>
<li>What Pfizer Does: Pfizer is one of the world&#8217;s largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales).</li>
</ul>
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Insider Trades

TMUS

UPST

Pfizer, Conagra Brands And 2 Other Stocks Insiders Are Selling

Goldman Sachs analyst Leah Jordan initiated coverage of the packaged food sector. The analyst writes that growth in the sector has slowed following the Covid demand surge and inflation, but some companies are undervalued near historic lows.
The analyst expects food-at-home spending to grow at a low-single-digit rate, supported by both volume and pricing due to strong consumer cash flow.
Jordan initiated coverage on ConAgra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a <a target="_blank" href="https://www.benzinga.com/quote/Cag/analyst-ratings" rel="noreferrer noopener">Buy rating and price target of $36</a>.
The analyst views CAG favorably due to its strong frozen and snack portfolio aligned with convenience trends, offering better-than-expected results and the highest free cash flow yield in the coverage. The company&#8217;s transformation, including the Pinnacle Foods acquisition and process overhaul, has been underappreciated by investors, particularly given the Covid-related market shifts, writes the analyst.
For FY25-27, the analyst estimates EPS of $2.67, $2.78, and $2.89 vs. the consensus (FactSet) of $2.61, $2.70, and $2.82, respectively, reflecting a more optimistic outlook on volume and mix trends.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39728345/conagra-falls-short-on-q4-revenue-amid-unfavorable-price-mix" rel="noreferrer noopener">ConAgra Falls Short On Q4 Revenue Amid Unfavorable Price Mix</a>
The analyst initiated coverage on General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), with a Buy rating <a target="_blank" href="https://www.benzinga.com/quote/gis/analyst-ratings" rel="noreferrer noopener">and price target of $76</a>.
GIS&#8217; diverse portfolio aligns with current trends, has less private label risk than feared, and demonstrates stronger margins compared to peers, writes the analyst. The analyst forecasts stable gross margins for GIS, with gradual improvement supported by moderating input cost inflation and ongoing productivity gains.
For FY25-27, Jordan projects EPS of $4.55, $4.75, and $4.95, compared to the consensus (FactSet) of $4.50, $4.73, and $4.94, respectively.
Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39501521/pillsbury-maker-general-mills-annual-profit-outlook-disappoints-stock-falls" rel="noreferrer noopener">Pillsbury Maker General Mills Annual Profit Outlook Disappoints, Stock Falls</a>
Jordan initiated coverage on Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) with a Neutral rating <a target="_blank" href="https://www.benzinga.com/quote/k/analyst-ratings" rel="noreferrer noopener">and a price target of $75</a>.
The spin-off of its North American cereal business has enhanced growth and margins. While strong earnings are expected from its brand strength and emerging market exposure, takeover speculation has dampened investor sentiment, says the analyst.
For FY24-26, Jordan estimates EPS of $3.80, $3.97, and $4.21 compared to the consensus (FactSet) of $3.70, $3.89, and $4.10, respectively.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40152783/cheez-it-and-pringles-maker-kellanova-acquisition-eyed-by-snickers-fame-mars-report" rel="noreferrer noopener">Cheez-It And Pringles Maker Kellanova Acquisition Eyed By Snickers-Fame Mars: Report</a>
Moreover, the analyst started coverage of Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) with a Buy rating and a $80 price target.
The analyst writes that MDLZ is seen as a high-quality investment with strong growth potential, driven by organic opportunities and emerging market exposure. Recent stock underperformance has been linked to market share losses and higher U.S. biscuit pricing pressures, but trends are improving, and the company is actively addressing these challenges.
For FY24-26, EPS estimates were $3.52/$3.70/$3.95 above the consensus (FactSet) of $3.50/$3.67/$3.94.
Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40078219/mondelez-analysts-boost-their-forecasts-after-upbeat-earnings" rel="noreferrer noopener">Mondelez Analysts Boost Their Forecasts After Upbeat Earnings</a>
On the other hand, the analyst started coverage on The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) with a Sell rating <a target="_blank" href="https://www.benzinga.com/quote/hsy/analyst-ratings" rel="noreferrer noopener">and a price target of $185</a>.
The analyst sees risks of estimate revisions and valuation compression for HSY due to ongoing market share losses to both private label and premium products, a potential slowdown in impulse spending, and fewer holiday shopping days. However, the analyst writes that HSY&#8217;s strong portfolio of industry-leading sweet and salty brands positions it well in the long term.
For FY24-26, the analyst anticipates EPS of $9.39/$9.10/$9.86 below the consensus (FactSet) of $9.54/$9.52/$10.29, reflecting a weaker demand and margin outlook for confectionery business, market share losses, and expected higher promotional activity and input costs.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40099246/hershey-shares-melt-q2-earnings-and-sales-miss-targets-amid-consumer-spending-slump" rel="noreferrer noopener">Hershey Shares Melt: Q2 Earnings And Sales Miss Targets Amid Consumer Spending Slump</a>
Also, the analyst initiated coverage of The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) with a <a href="https://www.benzinga.com/quote/khc/analyst-ratings">Sell rating and price target of $34.</a>
The analyst says that KHC&#8217;s turnaround is likely to be slower and more challenging than expected due to high private label risks and mixed brand positioning. The company faces the task of reinvesting in its assets and brands after past cost-cutting damaged core assets, adds the analyst.
For FY24-26, the analyst estimates EPS of $2.97, $3.04, and $3.20, below the consensus (FactSet) of $3.03, $3.18, and $3.35, due to a weaker North American outlook, increased promotional pressure from high private label risk, and prior underinvestment.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40110709/analysts-remain-bullish-on-kraft-heinz-despite-sales-decline-cost-efficiencies-and-" rel="noreferrer noopener">Analysts Remain Bullish on Kraft Heinz Despite Sales Decline: Cost Efficiencies and Future Foodservice Initiatives Boost Optimism</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by Melissa from Pixabay
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Analyst Color

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Initiation

MDLZ

Packaged Food Sector To See Mixed Performance Amid Economic Headwinds: Goldman Sachs

In the last three months, 7 analysts have published ratings on Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>), offering a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $31.43, a high estimate of $36.00, and a low estimate of $29.00. Highlighting a 1.78% decrease, the current average has fallen from the previous average price target of $32.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1723478461_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Conagra Brands among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Leah Jordan</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$36.00</td>
<td>-</td>
</tr>
<tr>
<td>Andrew Lazar</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$33.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Nik Modi</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$29.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>David Palmer</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Matthew Smith</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Chris Carey</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Thomas Palmer</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$30.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Conagra Brands. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Conagra Brands compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Conagra Brands's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Conagra Brands's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CAG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Conagra Brands analyst ratings.</a>
<h2>About Conagra Brands</h2>
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.
<h3>Key Indicators: Conagra Brands's Financial Health</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Challenges: Conagra Brands's revenue growth over 3 months faced difficulties. As of 31 May, 2024, the company experienced a decline of approximately -2.27%. This indicates a decrease in top-line earnings. When compared to others in the Consumer Staples sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Conagra Brands's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -19.52%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Conagra Brands's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -6.45%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Conagra Brands's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -2.65%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Conagra Brands's debt-to-equity ratio stands notably higher than the industry average, reaching 1.02. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Conagra Brands Stands With Analysts

Goldman Sachs analyst Leah Jordan initiates coverage on Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Buy rating and announces Price Target of $36.

Goldman Sachs Initiates Coverage On Conagra Brands with Buy Rating, Announces Price Target of $36

Conagra Brands Acquires Sweetwood Smoke & Co., Maker Of FATTY Smoked Meat Sticks; Financial Terms Not Disclosed

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout.</a>
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
<h3 class="wp-block-heading">Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>)</h3>
<ul>
<li>Dividend Yield: 7.84%</li>
<li>B of A Securities analyst Lisa Lewandowski maintained a Neutral rating and raised the price target from $47 to $48 on July 10. This analyst has an accuracy rate of 61%.</li>
<li>Morgan Stanley analyst Pamela Kaufman reiterated an Equal-Weight rating with a price target of $45 on July 18, 2023. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: On July 31, Altria Group reported worse-than-expected second-quarter financial results.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"> latest MO news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24.png" alt="" class="wp-image-484013" style="width:565px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074449/image-1-24-768x718.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
<h3 class="wp-block-heading">Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>)</h3>
<ul>
<li>Dividend Yield: 4.70%</li>
<li>Evercore ISI Group analyst David Palmermaintained a Neutral rating and lowered the price target from $32 to $31 on July 12. This analyst has an accuracy rate of 62%.</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $32 to $31 on July 10. This analyst has an accuracy rate of 65%.</li>
<li>Recent News: On July 11, Conagra Brands reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted EPS guidance below estimates.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1">trend in CAG stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="833" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46.png" alt="" class="wp-image-484017" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074532/image-46-768x701.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</h3>
<ul>
<li>Dividend Yield: 4.61%</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and raised the price target from $34 to $35 on Aug. 1. This analyst has an accuracy rate of 65%.</li>
<li>B of A Securities analyst Bryan Spillane maintained a Buy rating and cut the price target of $42 to $38 on July 10. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: On July 31, Kraft Heinz reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1">breakout in KHC shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="870" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47.png" alt="" class="wp-image-484020" style="width:468px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47.png 870w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47-300x292.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/08074631/image-47-768x748.png 768w" sizes="(max-width: 870px) 100vw, 870px" /></a></figure>
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Wall Street's Most Accurate Analysts Give Their Take On 3 Defensive Stocks Delivering High-Dividend Yields

Conagra Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) short percent of float has risen 7.37% since its last report. The company recently reported that it has 18.29 million shares sold short, which is 4.37% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Conagra Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722869114_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Conagra Brands has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Conagra Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Conagra Brands's peer group average for short interest as a percentage of float is 4.43%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(CAG) - Analyzing Conagra Brands's Short Interest

Barclays analyst Andrew Lazar maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Overweight and lowers the price target from $34 to $33.

Barclays Maintains Overweight on Conagra Brands, Lowers Price Target to $33

Conagra Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>) delivered fourth-quarter fiscal 2024 results, wherein the bottom and top lines declined year over year and the latter missed the Zacks Consensus Estimate. The company continued to witness challenging industry trends, including a slowdown in consumption. Shares of the company lost more than 2% in the pre-market trading session on Jul 11.
However, Conagra&#39;s strategic investments in brands have proven effective, leading to volume improvements in its Domestic Retail business, especially in the key Frozen and Snacks categories. Furthermore, the company&#39;s supply chain productivity efforts supported the expansion of adjusted gross margins. Management anticipates a gradual easing of the difficult industry trends as consumers adapt and set new reference prices.
<h3>Quarter in Detail</h3>
Conagra&#39;s quarterly adjusted earnings per share came in at 61 cents, which beat the Zacks Consensus Estimate of 56 cents. The bottom line declined 1.6% year over year.
<div class="chart_embed">
<h3>Conagra Brands Price, Consensus and EPS Surprise</h3>
<h3><img alt="Conagra Brands Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ab/1720707637.png" style="height:265px; width:576px" title="" /></h3>
Conagra Brands price-consensus-eps-surprise-chart | Conagra Brands Quote
The company generated net sales of $2,905.9 million, which declined 2.3% year over year and missed the Zacks Consensus Estimate of $2,939 million. The top line included a 0.1% positive impact of currency movements.
Organic net sales decreased 2.4% year over year due to a 1.8% drop in volumes, which stemmed from the continuation of the slowdown in consumption. Also, the price/mix had a 0.6% adverse impact on organic sales as a result of elevated strategic investments. Our model suggested an organic sales decline of 1.4% and a volume decline of 1.2% for the fourth quarter.
The adjusted gross profit remained flat year over year at $803 million. The adjusted gross margin improved 62 basis points (bps) to 27.6%. This was due to higher productivity, which more than offset the adverse impacts of lower organic net sales, cost of goods sold inflation and adverse operating leverage. We had expected the adjusted gross margin to expand 40 bps to 27.4%.
Adjusted SG&amp;A expenses, excluding advertising and promotional costs, remained flat year over year at $300 million.
Adjusted EBITDA (including equity method investment earnings and the pension and post-retirement non-service income) came in at $577 million, down from the $594.2 million recorded in the year-ago period.
</div>
<h3>Segmental Details</h3>
Grocery &amp; Snacks: Quarterly net sales in the segment came in at $1,174.7 million, down 2.1% year over year. Organic sales also fell 2.1% due to a 3.6% drop in volumes, while the price/mix rose 1.5%. During the quarter, CAG saw unit share gains in snacking categories like microwave popcorn and seeds, and some staple categories like chili and cooking sprays.
Refrigerated &amp; Frozen: Net sales and organic sales declined 3.8% year over year to $1,173 million. Our model suggested a 4% decline in net sales and organic sales for the quarter under review. The price/mix fell 4.7%, with volumes up 0.9%. The company saw unit share gains in frozen sides, frozen single-serve meals and frozen vegetables.
International: Net sales advanced 6.4% year over year to $266.8 million, reflecting improved organic net sales (up 4.3%) and positive currency effects (2.1%). Organic sales growth was driven by the price/mix (which climbed 0.2%) and volumes (which rose 4.1% due to strength in Mexico and global exports business).
Foodservice: Reported and organic sales declined 3.9% year over year to $291.4 million. The price/mix improved 6.4%, whereas volumes declined 10.3% on account of the ongoing effects of previously unveiled lost business, along with the current sluggishness in restaurant traffic.
<h3>Other Updates</h3>
The company exited the quarter with cash and cash equivalents of $77.7 million, senior long-term debt (excluding current installments) of $7,492.6 million, and total stockholders&#39; equity of $8,511.3 million.
In fiscal 2024, Conagra generated $2 billion as net cash flows from operating activities, with capital expenditures amounting to $388 million. The company generated a free cash flow of $1.6 billion in the fiscal year.
In fiscal 2024, Conagra paid dividends worth $659 million. Following the fourth-quarter end, management announced the continuation of its dividend rate of $1.40 per share. The company will pay a quarterly dividend of 35 cents per share on Aug 29, 2024, to shareholders of record as of Aug 1.
<h3>Guidance</h3>
For fiscal 2025, organic net sales growth is anticipated to be in the range of 1.5% decline to flat. The adjusted operating margin is expected to be between 15.6% and 15.8%.
Management envisions an adjusted EPS in the range of $2.60-$2.65 in fiscal 2025 compared with $2.67 recorded in fiscal 2024.
For fiscal 2025, the net leverage ratio is anticipated to be nearly 3.2X. Capital expenditure is likely to be $500 million, interest expenses are expected to be $415 million, and the adjusted effective tax rate is forecasted to be 23.5%.
Shares of the Zacks Rank #3 (Hold) company have lost 0.5% in the past six months compared with the industry&#39;s decline of 6.2%.
<h3>Better-Ranked Food Bets</h3>
Vital Farms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%.
The Zacks Consensus Estimate for Vital Farms&#39; current financial-year sales and earnings indicates growth of 22.6% and 62.7%, respectively, from year-ago reported numbers.
Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>), a pet food company, has a trailing four-quarter earnings surprise of 118.2%, on average. FRPT currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for Freshpet&#39;s current financial-year sales and earnings indicates growth of 24.8% and 177.1%, respectively, from the prior-year reported level.
Utz Brands Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utz#NYSE">UTZ</a>), which manufactures a diverse range of salty snacks, currently carries a Zacks Rank #2 (Buy). UTZ has a trailing four-quarter earnings surprise of 2%, on average.&nbsp;
The consensus estimate for Utz Brands&#39; current financial-year earnings indicates growth of 26.3% from year-ago reported numbers.
<a href="https://www.zacks.com/stock/news/2300258/conagra-cag-q4-earnings-top-despite-soft-consumption-trends?cid=CS-BENZ-FT-analyst_blog|earnings_article-2300258">To read this article on Zacks.com click here.</a>

Earnings Beats

Guidance

Conagra Q4 Earnings Top Despite Soft Consumption Trends

RBC Capital analyst Nik Modi maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Sector Perform and lowers the price target from $30 to $29.

RBC Capital Maintains Sector Perform on Conagra Brands, Lowers Price Target to $29

Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted EPS guidance below estimates.
The company reported adjusted earnings per share of 61 cents, beating the analyst consensus estimate of 57 cents. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
"Looking ahead, we expect a gradual waning of the challenging industry trends seen throughout fiscal year 2024, as consumers adapt and establish new reference prices," said Sean Connolly, president and chief executive officer.
ConAgra approved the continuation of the company's annualized dividend rate of $1.40 per share. The company's quarterly dividend payment of $0.35 per share will be paid on August 29 to stockholders of record as of the close of business on August 1.
ConAgra said sees FY25 organic net sales to be down 1.5% to flat compared to fiscal 2024 and adjusted EPS between $2.60 and $2.65 versus the $2.63 estimate. The company's FY25 adjusted operating margin is expected between 15.6% and 15.8%. The company also expects the cost of goods sold inflation to continue into fiscal 2025.
ConAgra shares fell 1.5% to close at $28.38 on Thursday.
These analysts made changes to their price targets on ConAgra after the company reported quarterly results.
<ul>
<li>Stifel analyst Matthew Smith maintained Conagra Brands with a Hold and lowered the price target from $32 to $30.</li>
<li>Evercore ISI Group analyst David Palmer maintained Conagra Brands with a Neutral and slashed the price target from $32 to $31.</li>
</ul>
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ConAgra Analysts Slash Their Forecasts Following Weak Sales

Evercore ISI Group analyst David Palmer maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Neutral and lowers the price target from $32 to $31.

Evercore ISI Group Maintains Neutral on Conagra Brands, Lowers Price Target to $31

Stifel analyst Matthew Smith maintains Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) with a Hold and lowers the price target from $32 to $30.

Stifel Maintains Hold on Conagra Brands, Lowers Price Target to $30

Shares of Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) fell during Thursday's session after the company reported worse-than-expected fourth-quarter sales results and issued FY25 adjusted <a href="https://www.benzinga.com/news/earnings/24/07/39728345/conagra-falls-short-on-q4-revenue-amid-unfavorable-price-mix">EPS guidance below estimates</a>.
The company reported adjusted earnings per share of 61 cents, beating the analyst consensus estimate of 57 cents. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Conagra Brands shares declined 3.9% to $27.70 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Kazia Therapeutics Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KZIA#NASDAQ">KZIA</a>) shares surged 88.6% to $1.26. Kazia Therapeutics, on Wednesday, announced results from GBM-AGILE, a phase II/III study that included an evaluation of paxalisib versus standard of care for patients with glioblastoma.</li>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) shares jumped 78.6% to $1.2698 after the company reported 12-month Phase 2 trial results for eRapa in treating Familial Adenomatous Polyposis.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) climbed 68.2% to $6.13 in response to a series of buy-sell transactions by UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>).</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) jumped 48% to $0.4241.</li>
<li>Renalytix Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNLX#NASDAQ">RNLX</a>) gained 35% to $0.4125 after the company announced a collaboration with the Steno Diabetes Center, Copenhagen, to advance translation of precision medicine solutions for patients with Diabetes and Chronic Kidney Disease.</li>
<li>Blue Star Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSFC#NASDAQ">BSFC</a>) shares rose 33.6% to $2.2450 after declining around 5% on Wednesday.</li>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) gained 32.5% to $5.25. Cyngn announced the expansion of its dealer network to include Alta Equipment Group.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) shares rose 29.4% to $12.22 after the company reported better-than-expected fourth-quarter sales results.</li>
<li>QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) gained 25% to $6.76 after the company announced it entered into an agreement with PowerCo to industrialize solid-state batteries.</li>
<li>Terns Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TERN#NASDAQ">TERN</a>) jumped 18.2% to $8.63.</li>
<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) rose 16.7% to $5.92. SoundHound AI recently announced that its ChatGPT-integrated voice assistant is now live and in production in Peugeot, Opel and Vauxhall vehicle brands in Europe.</li>
<li>LL Flooring Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LL#NYSE">LL</a>) jumped 15.4% to $0.7850.</li>
<li>Astrana Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTH#NASDAQ">ASTH</a>) gained 11.2% to $42.47. Truist Securities analyst Jailendra Singh upgraded Astrana Health from Hold to Buy and raised the price target from $44 to $50.</li>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) shares rose 10.8% to $7.76.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) climbed 10.8% to $3.60 after Rosenblatt initiated coverage on the stock with a Buy rating and announced a $5 price target.</li>
<li>OKYO Pharma Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKYO#NASDAQ">OKYO</a>) gained 10.2% to $1.3003 as the company announced plans to initiate neuropathic corneal pain trial for OK-101.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) shares rose 9.7% to $1.72 after the company announced it received a significant order valued at $260,000 to modernize the traffic systems in a major Mid-Atlantic county in the United States.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) shares gained 8.4% to $5.07 after surging 44% on Wednesday.</li>
<li>Lantheus Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNTH#NASDAQ">LNTH</a>) rose 8.2% to $114.89. Leerink Partners maintained Lantheus with an Outperform and raised the price target from $106 to $127.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) rose 8% to $1,410.01 after the company announced a 10-for-1 stock split.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) rose 7.6% to $1.8307.</li>
<li>Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) gained 6.6% to $318.49.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Inspire Veterinary Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) dipped 28.1% to $5.32 after jumping 110% on Wednesday. Inspire Veterinary Partners announced the closing of $6 million public offering.</li>
<li>Cingulate Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CING#NASDAQ">CING</a>) fell 25% to $0.4862 after gaining 74% on Wednesday.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) dipped 18.6% to $2.5102.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) declined 18.2% to $3.5736.</li>
<li>Boqii Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BQ#NYSE">BQ</a>) dipped 17.6% to $0.4271.</li>
<li>TuanChe Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares fell 17.5% to $1.5996.</li>
<li>Clene Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNN#NASDAQ">CLNN</a>) fell 15.7% to $4.7350. Clene announced plans to submit briefing book to the U.S. FDA in connection with granted Type C interaction to obtain FDA feedback on potential pathway to accelerated approval for CNM-Au8 in ALS.</li>
<li>E2open Parent Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NASDAQ">ETWO</a>) declined 15.7% to $3.72 after the company reported worse-than-expected first-quarter sales results.</li>
<li>uniQure N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>) dipped 14.2% to $8.68. The company recently announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European Phase I/II clinical trials of AMT-130 for the treatment of</li>
<li>Longeveron Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) shares fell 9.4% to $4.1191. Longeveron shares jumped over 58% on Wednesday after the company announced that the FDA granted Regenerative Medicine Advanced Therapy designation to Lomecel-B for the treatment of mild Alzheimer&#8217;s Disease.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) dipped 9% to $18.06.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) fell 8% to $0.4210 after gaining over 20% on Wednesday.</li>
<li>BRC Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRCC#NYSE">BRCC</a>) fell 7.7% to $4.9850.</li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) fell 7.1% to $43.56 after the company posted downbeat second-quarter earnings and issued lower-than-expected third-quarter earnings outlook.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) declined 6.2% to $10.45 in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) fell 5.5% to $44.58 in sympathy with Delta, which fell after reporting mixed quarterly earnings.</li>
<li>Celestica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) fell 5.4% to $58.18. Celestica is expected to release second quarter financial results on Wednesday, July 24.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/general/restaurants/24/07/39728857/jim-cramer-says-dont-panic-about-cava-calls-this-industrial-company-terrific">Jim Cramer Says &#8216;Don&#8217;t Panic&#8217; About Cava, Calls This Industrial Company &#8216;Terrific</a><a href="https://www.benzinga.com/general/restaurants/24/07/39728857/jim-cramer-says-dont-panic-about-cava-calls-this-industrial-company-terrific">&#8216;</a></li>
</ul>

Intraday Update

Movers

ASNS

ASTH

BDRX

BRCC

BSFC

CGBS

CING

CLNN

ETWO

IGMS

ISPC

KZIA

LGVN

LNTH

LUCY

MSTR

NAAS

OKYO

POOL

QURE

RBBN

RNLX

SOUN

TBIO

TERN

VLCN

VRPX

Why ConAgra Brands Shares Are Trading Lower? Here Are Other Stocks Moving In Thursday's Mid-Day Session

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