Conagra (CAG) Target Trimmed as Wells Fargo Updates 2026 Food Sector Models

Conagra Brands, Inc. (NYSE:CAG) is included among the 13 Best January Dividend Stocks to Invest in.

On January 5, Wells Fargo lowered its price target on Conagra Brands, Inc. (NYSE:CAG) to $18 from $19 and kept an Equal Weight rating. The move came as the firm updated models across the Beverage, Food, and HPC space heading into 2026.

Earlier in December, Conagra Brands, Inc. (NYSE:CAG) said it was holding its full-year sales and profit targets steady after a subdued second quarter. The company continues to deal with uneven demand for pantry staples, pressured consumer spending, and intense competition. The quarter also included a swing to a loss, driven by a $968 million non-cash impairment tied to a prolonged decline in the company’s share price.

Conagra shares fell nearly 38% in 2025 as supply chain disruptions, higher input costs, and softer demand weighed on results. Shoppers have been trading down, and that trend has been hard to offset. Shifts in consumer preferences toward healthier food, tied in part to the “Make America Healthy Again” movement, add another layer of risk. Wider use of GLP-1 weight-loss drugs could also pressure demand for packaged foods. Even so, Conagra’s valuation looks inexpensive with sentiment across the sector still weak, according to RBC Capital Markets analyst Nik Modi.

For the quarter, Conagra Brands, Inc. (NYSE:CAG) reported a net loss of $663.6 million, compared with a profit of $284.5 million a year earlier. On an adjusted basis, earnings came in at $0.45 per share, beating estimates by $0.01.The company is not pursuing acquisitions and is instead focused on improving cash flow and reducing debt, CEO Sean Connolly told Reuters.

Conagra Brands, Inc. (NYSE:CAG) operates across Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice, with a portfolio built around well-known consumer brands.

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