Conagra Brands (NYSE:CAG) Reaches New 1-Year Low – What’s Next?

Conagra Brands, Inc. (NYSE:CAG)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.35 and last traded at $24.53, with a volume of 271942 shares changing hands. The stock had previously closed at $24.82.

Analyst Ratings Changes

CAG has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Barclays lowered their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Price Performance

The stock’s 50-day moving average is $26.60 and its 200 day moving average is $28.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market cap of $11.88 billion, a PE ratio of 24.41, a PEG ratio of 1.70 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.62%. Conagra Brands’s dividend payout ratio is currently 137.26%.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds have recently added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co purchased a new position in Conagra Brands in the fourth quarter valued at $29,000. Grove Bank & Trust raised its position in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.