Conagra Brands, Inc. (CAG)

Conagra Brands' stock price experienced a significant decline of 44.53% between September 30, 2024, and September 29, 2025, with the share price falling from $32.52 to $18.04. Recent financial reports highlighted declining organic net sales and adjusted EPS due to reduced volume, negative price/mix, persistent inflation, supply constraints, and unfavorable foreign exchange rates, leading to lowered annual sales and profit forecasts for fiscal year 2025. However, in its first quarter fiscal year 2026 earnings, Conagra's adjusted EPS of $0.39 surpassed the consensus estimate of $0.33, and revenue of $2.63 billion also slightly beat expectations, despite a year-over-year decline. The company is focused on innovation and expects to return to positive organic sales growth in the second half of fiscal year 2026, driven by volume momentum in frozen and snacks, and tactical pricing actions in staples.

While consumer staples generally exhibit inelastic demand, Conagra Brands' products can experience some seasonality. Strong consumption growth for frozen foods between December and early January prompted efforts to rebuild stock ahead of the Easter holiday season, suggesting increased demand around major holidays. Trends in snacking, such as the popularity of "mini snack flexibility" and "flavor explosion," are year-round, but the broader food industry sees seasonal offerings which could influence demand for Conagra's related snack and dessert categories. The company's focus on "elevated in-home experiences" and "convenience and affordability" for Millennials and Gen Z also drives increased spending on frozen foods, indicating a consistent demand for convenient meal solutions.

Conagra Brands, Inc. is an American consumer packaged goods holding company headquartered in Chicago, Illinois, operating in the Consumer Defensive sector, specifically within the Consumer Packaged Goods industry. It manufactures and sells a diverse portfolio of branded, private label, and value-added consumer food products, as well as foodservice items and ingredients. Its major products span various categories including meals and entrees, condiments, sides, snacks, and desserts, available in frozen, refrigerated, and shelf-stable formats. Key brands include Marie Callender's, Healthy Choice, Banquet, Birds Eye, Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, Chef Boyardee, Act II, Udi's Gluten-Free, Egg Beaters, Pam, Angie's Boom Chicka Pop, Hebrew National, and Bertolli ready meals. The company also produces commercially branded foods and ingredients for foodservice, food manufacturing, and industrial customers under labels such as ConAgra Mills, Lamb Weston, Gilroy Foods, and Spicetec.

Conagra Brands operates predominantly in the United States, which accounted for 91% of its fiscal 2025 revenue. The company maintains an international presence with manufacturing facilities and sales offices in Mexico, Canada, China, Panama, and the Philippines, and also exports its products to various other countries. Its headquarters are located in Chicago, Illinois.

Conagra Brands is actively working to enhance its brand reputation through various initiatives. The company is committed to phasing out artificial colors from its food products, with a target for full implementation by the end of 2027. Conagra also focuses on innovation and consumer trends, launching over 50 new frozen foods in the current year, including plant-based and gluten-free options, to cater to evolving consumer preferences. Its reports identify trends like modern health, elevated in-home experiences, global cuisine, convenience of bites and minis, and spice and heat as drivers of category growth.

Conagra Brands, Inc. has a mixed ownership structure comprising institutional, retail, and individual investors. Institutional investors hold a significant portion of the company's stock, with approximately 70.75% or 89% of shares. The top 15 shareholders collectively control 51% of the ownership. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., State Street Corp, Geode Capital Management, Llc, Invesco Ltd., Dimensional Fund Advisors Lp, and Ameriprise Financial Inc. Insiders own less than 1% of the company, while the general public and individual investors hold between 11% and 28.59% of the stock.