BUZZ-Conagra Brands down after annual profit target cut on supply chain issues

Slim Jim beef jerky maker Conagra Brands' CAG.N shares down 2.2% at $24.73 premarket

Co cuts annual profit expectations for the second time in less than two months, citing supply constraints and foreign exchange rates

Experienced interruptions in customer service for frozen meals containing chicken and vegetables in Q3 due to supply issues on two product platforms - CAG said on Monday

Expects annual adj EPS $2.35 vs prior target of $2.45 to $2.50

Also trims adjusted operating margin expectation to 14.4% from 14.8%

In 2024, stock fell 3%, following a ~26% fall in 2023