Shares of Conagra Brands, Inc. (NYSE:CAG – Get Free Report) traded up 3.5% during mid-day trading on Tuesday . The stock traded as high as $28.21 and last traded at $28.15. 613,897 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,247,468 shares. The stock had previously closed at $27.21.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Conagra Brands in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 price objective for the company. Evercore ISI cut shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price objective for the company. in a research report on Monday, December 11th. Royal Bank of Canada cut their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Finally, Citigroup started coverage on Conagra Brands in a report on Thursday, February 1st. They set a “neutral” rating and a $30.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.87.
Conagra Brands Trading Up 4.9 %
The business has a fifty day moving average of $28.76 and a 200-day moving average of $28.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.31 and a current ratio of 0.91. The company has a market capitalization of $13.64 billion, a P/E ratio of 13.21, a PEG ratio of 2.89 and a beta of 0.44.
Conagra Brands (NYSE:CAG – Get Free Report) last issued its quarterly earnings data on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Conagra Brands had a net margin of 8.09% and a return on equity of 14.78%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Tuesday, January 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 29th. This represents a $1.40 annualized dividend and a yield of 4.91%. Conagra Brands’s dividend payout ratio (DPR) is currently 67.96%.
Institutional Trading of Conagra Brands
Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in Conagra Brands by 4.4% during the second quarter. Kestra Private Wealth Services LLC now owns 27,405 shares of the company’s stock worth $924,000 after buying an additional 1,145 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $2,961,000. Franklin Resources Inc. lifted its stake in Conagra Brands by 363.5% in the second quarter. Franklin Resources Inc. now owns 616,862 shares of the company’s stock valued at $20,801,000 after purchasing an additional 483,760 shares during the last quarter. Bollard Group LLC grew its holdings in Conagra Brands by 0.8% during the second quarter. Bollard Group LLC now owns 118,713 shares of the company’s stock valued at $4,003,000 after purchasing an additional 981 shares during the period. Finally, Aigen Investment Management LP increased its position in Conagra Brands by 294.8% in the third quarter. Aigen Investment Management LP now owns 105,923 shares of the company’s stock worth $2,904,000 after buying an additional 79,092 shares during the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.