Why Did Conagra Brands Plunge Nearly 9% Yesterday? Shares of Conagra Brands (NYSE: CAG) plunged 8.9% yesterday after the American consumer packaged goods company posted mixed fourth-quarter fiscal 2022 results. Moreover, the company''s guidance for FY23 fell short of Wall Street''s expectations. CAG stock ended the day down 7.2% at $33.15 on July 14. CAG Results in Detail Conagra Brands’ quarterly net sales rose 6.2% year-over-year to $2.91 billion. Although the company’s net sales grew across each segment, they were not enough to beat analysts’ estimates of $2.93 billion. Meanwhile, driven by healthy inflation-driven pricing actions, organic sales leaped 6.8% compared to the same period last year. On the bright side, Q4 adjusted earnings of $0.