Top 10 Newsworthy Upgrades and Downgrades

5. Conagra Brands, Inc. (NYSE:CAG)

Number of Hedge Fund Holders: 39

Conagra Brands, Inc. (NYSE:CAG) is one of the stocks that made it to our list of top 10 newsworthy upgrades and downgrades. On June 12, Bank of America downgraded the company’s stock to “Underperform” from “Neutral,” reducing the price objective to $20 from the prior target of $27, as reported by The Fly. The firm warned about the increasing protein costs, which can pressure margins and earnings over the upcoming year. Its detailed cost of goods estimates exhibit that protein inflation for chicken, beef, and pork can be a significant headwind.

As per the analysts, Conagra Brands, Inc. (NYSE:CAG) is exposed to unique challenges in the packaged food heading into FY 2026, considering its inflation basket within COGS (protein), along with the limited additional pricing power in the company’s largest category. In Q3 2025, Conagra Brands, Inc. (NYSE:CAG)’s net sales fell 6.3% to $2.8 billion. This reflects a 5.2% decline in organic net sales, a 0.7% decline from the unfavorable impact of foreign exchange, and a 0.4% decrease from the unfavorable impact of M&A.

Notably, the decrease in organic net sales was because of a 2.1% negative impact from price/mix and a 3.1% decline in volume.

Conagra Brands, Inc. (NYSE:CAG) operates as a consumer packaged goods food company.