Conagra Brands (NYSE:CAG) Issues FY22 Earnings Guidance

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Conagra Brands (NYSE:CAG) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $2.66-2.76 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.49. Conagra Brands also updated its FY 2022
Pre-Market guidance to 2.66-2.76 EPS.

Several brokerages recently commented on CAG. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $36.00 to $39.00 in a research report on Wednesday, July 1st. ValuEngine raised shares of Conagra Brands from a strong sell rating to a sell rating in a research report on Monday, August 3rd. Morgan Stanley raised their price target on shares of Conagra Brands from $32.00 to $35.00 and gave the stock an equal weight rating in a research report on Wednesday, July 1st. Jefferies Financial Group reissued a buy rating and set a $41.00 price target on shares of Conagra Brands in a research report on Thursday, August 13th. Finally, Credit Suisse Group raised their price target on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Conagra Brands presently has an average rating of Hold and a consensus price target of $36.00.

Conagra Brands stock opened at $35.87 on Friday. The company’s fifty day moving average price is $36.52 and its 200 day moving average price is $34.23. Conagra Brands has a 1 year low of $22.83 and a 1 year high of $39.34. The stock has a market capitalization of $17.44 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.13 and a beta of 0.86. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.46 and a current ratio of 0.88.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, October 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.61 billion. Conagra Brands had a return on equity of 14.38% and a net margin of 7.60%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Sell-side analysts predict that Conagra Brands will post 2.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Monday, November 2nd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s dividend payout ratio (DPR) is presently 37.28%.

In other Conagra Brands news, EVP David Biegger sold 33,634 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $37.66, for a total value of $1,266,656.44. Following the transaction, the executive vice president now owns 66,697 shares in the company, valued at approximately $2,511,809.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colleen Batcheler sold 53,240 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $36.00, for a total value of $1,916,640.00. Following the completion of the transaction, the executive vice president now owns 194,546 shares in the company, valued at approximately $7,003,656. The disclosure for this sale can be found here. Insiders sold a total of 144,428 shares of company stock worth $5,319,734 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Earnings History and Estimates for Conagra Brands (NYSE:CAG)

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