Conagra Brands (NYSE:CAG) Reaches New 12-Month Low – Here’s What Happened

Conagra Brands, Inc. (NYSE:CAG) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.12 and last traded at $26.22, with a volume of 1150377 shares changing hands. The stock had previously closed at $26.60.

Analysts Set New Price Targets

CAG has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Barclays cut 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. Citigroup 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 Wednesday, December 11th. Finally, Wells Fargo & Company reduced their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Price Performance

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 stock has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $29.33. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released 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 return on equity of 13.71% and a net margin of 4.14%. 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 firm posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.40%. Conagra Brands’s dividend payout ratio is currently 137.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the 3rd quarter valued at $47,000. ST Germain D J Co. Inc. raised its stake in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares in the last quarter. Kennebec Savings Bank acquired a new position in Conagra Brands in the third quarter valued at $59,000. Finally, Quarry LP increased its position in shares of Conagra Brands by 229.7% during the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after purchasing an additional 1,268 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.