Conagra Brands (NYSE:CAG) Hits New 12-Month Low – Time to Sell?

Conagra Brands (NYSE:CAG)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $13.92 and last traded at $14.1070, with a volume of 114226 shares traded. The stock had previously closed at $14.23.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAG shares. Jefferies Financial Group decreased their target price on Conagra Brands from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Royal Bank Of Canada decreased their target price on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Evercore decreased their target price on Conagra Brands from $19.00 to $18.00 in a research report on Thursday, April 2nd. Finally, UBS Group decreased their target price on Conagra Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $15.80.

Conagra Brands Stock Down 2.0%

The company has a 50 day simple moving average of $16.15 and a two-hundred day simple moving average of $17.20. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $6.73 billion and a P/E ratio of -140.64.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Thursday, April 30th. Conagra Brands’s payout ratio is presently -1,400.00%.

Insider Activity at Conagra Brands

In other Conagra Brands news, Director Richard H. Lenny bought 25,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. This represents a 12.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John J. Mulligan bought 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the purchase, the director owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. The trade was a 542.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAG. NewEdge Advisors LLC grew its stake in shares of Conagra Brands by 4.2% during the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock valued at $628,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in shares of Conagra Brands during the first quarter valued at approximately $225,000. Empowered Funds LLC grew its stake in shares of Conagra Brands by 5.9% during the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after buying an additional 2,038 shares during the last quarter. Woodline Partners LP grew its stake in shares of Conagra Brands by 40.7% during the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after buying an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Conagra Brands by 3.9% during the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock valued at $1,033,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.