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

Conagra Brands, Inc. (NYSE:CAG)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $25.43 and last traded at $25.58, with a volume of 4659402 shares changing hands. The stock had previously closed at $26.05.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Barclays dropped their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.56.

Conagra Brands Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The business’s 50 day simple moving average is $27.42 and its 200 day simple moving average is $29.31. The stock has a market cap of $12.21 billion, a P/E ratio of 24.83, a PEG ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. On average, analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.47%. Conagra Brands’s payout ratio is 137.25%.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Courier Capital LLC increased its position in Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after acquiring an additional 355 shares in the last quarter. CWM LLC grew its stake in shares of Conagra Brands by 0.4% during the third quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after purchasing an additional 359 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after purchasing an additional 362 shares in the last quarter. Arkadios Wealth Advisors raised its position in Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares during the last quarter. Finally, Bridgewater Advisors Inc. lifted its holdings in Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

About Conagra Brands

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.