Is Conagra Brands Stock Underperforming the Nasdaq?

Chicago, Illinois-based Conagra Brands, Inc. (CAG) operates as a consumer packaged goods food company primarily in the United States. The company has a market capitalization of $7.7 billion and operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments.

Companies with a market cap between $2 billion and $10 billion are typically referred to as "mid-cap stocks." Conagra Brands fits into that category, with its market cap falling into the range, reflecting its size and influence in the packaged foods industry. 

CAG stock reached its 52-week high of $27.68 on Apr. 04, 2025, and is currently down 43.8% from that peak. The stock has declined 12.6% over the past three months, underperforming the Nasdaq Composite ($NASX), which slipped 5% during the same time frame.

Over the longer term, the scenario remains the same. CAG stock is down nearly 40.2% over the past 52 weeks, underperforming the 24.8% return of NASX over the same period.

CAG has spent most of the past year trading below both its 50-day and 200-day moving averages, signaling sustained weakness. The stock briefly moved above these levels in January, hinting at a potential recovery, but the recent drop back below them this month suggests bearish momentum has returned and sellers remain in control.

On Dec. 19, CAG shares fell 2.5% following the release of its mixed Q2 2026 earnings. The company’s net sales decreased 6.8% year over year to $3 billion but came in line with the Street’s estimates. Moreover, its adjusted EPS amounted to $0.45, beating Wall Street projections. 

More recently, the stock declined following a disappointing quarterly result and a bearish outlook from its industry peer, Campbell’s Company (CPB), on Mar. 11. CPB’s weak earnings report triggered a broad selloff across the sector, hurting investor confidence in similar companies, such as CAG. Moreover, there has been an increase in bearish options trading on Conagra, suggesting nervous investor sentiment ahead of the company’s upcoming earnings.

When stacked against its closest peer in the packaged foods industry, Pilgrim's Pride Corporation (PPC) shares have declined 26.4% over the past 52 weeks, outperforming CAG stock.

Additionally, sentiment on CAG remains cautious. Among the 16 analysts covering the stock, the consensus rating is a “Hold.” Its mean price target of $18.87 suggests 21.3% upside potential from current price levels.