Conagra Brands (CAG) Stock: Two Directors Buy $609K Near 12-Month Low

TLDR

• Two Conagra directors bought a combined 42,500 stock units on April 14, spending roughly $609,000 at prices near the stock’s 12-month low.
• CAG has fallen 17% in 2026, weighed down by falling volumes, margin pressure, and a cut fiscal year outlook.
• Q3 earnings missed on EPS ($0.39 vs $0.40 est.) with revenue down 1.9% year-over-year.
• Morgan Stanley cut its price target to $15 from $17 on Thursday, keeping an “equal weight” rating.
• Analyst consensus sits at “Reduce” with an average target of $15.80 — 1 Buy, 13 Hold, 4 Sell.

Two Conagra directors just put their money where their mouth is. Director Richard H. Lenny purchased 25,000 CAG stock units at $14.34 each on April 14, worth $358,500 in total. Director John J. Mulligan bought 17,500 units at $14.31 the same day, spending $250,425.

Conagra Brands, Inc., CAG

The combined outlay of roughly $609,000 came as the stock sat near a 12-month low of $14.04. For Mulligan, the purchase represented a 542% increase in his ownership of the company. Lenny now holds 229,340 units valued at around $3.3 million.

The timing matters. CAG’s latest drop began on April 9 when BNP Paribas downgraded the stock to Neutral from Outperform and slashed its price target to $16 from $19. The stock closed below $16 that same day.

Weak Earnings Add Pressure

Earlier this month, Conagra reported fiscal Q3 results that came in below expectations. The company posted EPS of $0.39, missing the $0.40 consensus by a penny. Revenue came in at $2.79 billion, slightly ahead of the $2.76 billion estimate.

But the top-line beat didn’t soften the blow. Revenue was down 1.9% year-over-year, and the company earned $0.51 EPS in the same quarter a year ago — a sharp drop. Conagra also cut its full fiscal year outlook, pointing to the macroeconomic environment and persistent inflation.

The stock is now down 17% year-to-date. The S&P 500 is up 4.2% over the same period.

Analysts Stay Cautious

Wall Street isn’t rushing to upgrade the stock. On Thursday, Morgan Stanley cut its price target on CAG to $15 from $17, while keeping an “equal weight” rating. That implies just 3.6% upside from Wednesday’s close.

Morgan Stanley wasn’t alone. JPMorgan cut its target from $19 to $17 in March. TD Cowen and Deutsche Bank both moved to $14. Stifel cut to $15 this week.

MarketBeat’s current analyst breakdown shows 1 Buy, 13 Hold, and 4 Sell ratings, with an average target of $15.80 and an overall rating of “Reduce.”

CAG opened Thursday at $14.49. Its 50-day moving average is $16.75 and the 200-day sits at $17.38, both well above the current price.

One data point that stands out: CAG currently yields around 9%, the highest dividend yield in the S&P 500. The average yield for a dividend payer in the index is 2.3%.

Institutional investors own 83.75% of the stock. Several smaller funds increased their positions in recent quarters, though the moves were modest in size.

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