Conagra Brands, Inc. (NYSE:CAG – Get Free Report) reached a new 52-week low on Friday after Jefferies Financial Group lowered their price target on the stock from $38.00 to $35.00. The stock traded as low as $32.18 and last traded at $32.69, with a volume of 1869188 shares. The stock had previously closed at $33.16.
CAG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft dropped their target price on Conagra Brands from $38.00 to $36.00 in a report on Thursday, June 29th. StockNews.com cut Conagra Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. Bank of America dropped their target price on Conagra Brands from $40.00 to $38.00 in a report on Friday. UBS Group dropped their target price on Conagra Brands from $44.00 to $40.00 in a report on Monday. Finally, Barclays dropped their target price on Conagra Brands from $42.00 to $39.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $38.77.
Institutional Trading of Conagra Brands
Several hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new position in shares of Conagra Brands in the 1st quarter valued at about $208,000. Institutional & Family Asset Management LLC bought a new position in shares of Conagra Brands in the 1st quarter valued at about $26,000. Delta Asset Management LLC TN bought a new position in shares of Conagra Brands in the 4th quarter valued at about $27,000. Core Alternative Capital bought a new position in shares of Conagra Brands in the 1st quarter valued at about $31,000. Finally, ST Germain D J Co. Inc. bought a new position in Conagra Brands during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 88.80% of the company’s stock.
Conagra Brands Price Performance
The company has a quick ratio of 0.32, a current ratio of 0.97 and a debt-to-equity ratio of 0.90. The firm has a market cap of $15.50 billion, a P/E ratio of 19.71, a PEG ratio of 1.83 and a beta of 0.54. The business has a fifty day moving average of $34.80 and a 200 day moving average of $36.48.
Conagra Brands (NYSE:CAG – Get Free Report) last posted its quarterly earnings results on Thursday, July 13th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Conagra Brands had a return on equity of 15.34% and a net margin of 6.59%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company posted $0.65 earnings per share. Conagra Brands’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.75 earnings per share for the current year.
Conagra Brands Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $1.40 dividend on an annualized basis and a yield of 4.31%. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. Conagra Brands’s dividend payout ratio (DPR) is presently 79.04%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.