Conagra Brands (NYSE: CAG) Q1 2027 Earnings: Barclays Rating and Outlook

• Barclays maintains an "Overweight" rating on Conagra Brands, lowering its price target to $16.00 (from $17.00) and implying a 21% upside from the current trading price.
• Conagra Brands reported fiscal first-quarter 2027 adjusted earnings of $0.41 per share, surpassing the $0.31 estimate, despite a 1.4% decline in sales to $2.60 billion.
• The company's fiscal 2027 forecast remains unchanged, projecting organic sales to decline 1%–3% and adjusted earnings per share to be between $1.40–$1.50.

Barclays maintains its Overweight rating on Conagra Brands (NYSE: CAG), a leading packaged-food company with diverse grocery, snack, and frozen-food businesses. The bank lowers its price target to $16.00 from $17.00. With Conagra Brands trading at $13.20 when the update is posted, the new target is about 21% above that price.

Conagra Brands reports fiscal first-quarter 2027 adjusted earnings of $0.41 per share, up 5.1% from a year earlier. That exceeds the $0.31 estimate cited by Zacks. Adjusted earnings exclude certain items to give investors a view of the company’s ongoing business.

Sales fall 1.4% to about $2.60 billion but still exceed expectations. Lower selling, general and administrative costs—expenses such as marketing and office operations—and higher equity income help offset weaker sales volumes and pressure on gross margins. Adjusted operating profit falls 4.1% to $297.90 million.

Conagra Brands keeps its fiscal 2027 forecast unchanged, as highlighted by Zacks. It expects organic sales, which exclude effects such as acquisitions, to decline 1%–3% and adjusted earnings to reach $1.40–$1.50 per share. The company expects organic sales to decline 2% in the second quarter as transportation costs, price increases and advertising spending affect results.