Conagra Brands (NYSE:CAG) Hits New 1-Year Low – Here’s What Happened

Shares of Conagra Brands, Inc. (NYSE:CAG) reached a new 52-week low on Monday . The company traded as low as $24.35 and last traded at $24.53, with a volume of 271942 shares. The stock had previously closed at $24.82.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CAG shares. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Stifel Nicolaus cut their target price on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Price Performance

The firm has a market cap of $11.68 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average price of $26.73 and a 200 day moving average price of $28.89.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Institutional Trading of Conagra Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC grew its holdings in shares of Conagra Brands by 114.5% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock worth $53,478,000 after buying an additional 1,028,631 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Conagra Brands by 3.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 395,220 shares of the company’s stock worth $10,884,000 after acquiring an additional 11,414 shares during the last quarter. Achmea Investment Management B.V. grew its stake in Conagra Brands by 10.4% in the 4th quarter. Achmea Investment Management B.V. now owns 48,705 shares of the company’s stock worth $1,351,000 after acquiring an additional 4,603 shares during the period. Farther Finance Advisors LLC raised its holdings in Conagra Brands by 49.2% in the 4th quarter. Farther Finance Advisors LLC now owns 4,846 shares of the company’s stock valued at $134,000 after acquiring an additional 1,599 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Conagra Brands by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 13,321 shares of the company’s stock worth $370,000 after purchasing an additional 4,164 shares during the period. Hedge funds and other institutional investors own 83.75% 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.