Brokerages expect Conagra Brands Inc (NYSE:CAG) to announce earnings of $0.43 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Conagra Brands’ earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.44. Conagra Brands reported earnings of $0.37 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, June 28th.
According to Zacks, analysts expect that Conagra Brands will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $2.04 to $2.05. For the next fiscal year, analysts expect that the firm will post earnings of $2.31 per share, with EPS estimates ranging from $2.26 to $2.40. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Conagra Brands.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share.
Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a report on Thursday, March 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 price objective on shares of Conagra Brands in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Buy” and a consensus target price of $41.78.
Shares of Conagra Brands stock traded up $0.25 on Friday, hitting $38.20. The company had a trading volume of 1,778,500 shares, compared to its average volume of 3,052,475. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.03 and a quick ratio of 0.52. The stock has a market capitalization of $15.09 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.30. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $39.42.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Monday, April 30th were paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, April 27th. Conagra Brands’s dividend payout ratio is presently 48.85%.
In related news, Director Stephen G. Butler sold 12,092 shares of the stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $37.18, for a total transaction of $449,580.56. Following the completion of the sale, the director now directly owns 127,755 shares of the company’s stock, valued at $4,749,930.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $35.86, for a total transaction of $216,809.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,046 shares of company stock valued at $885,695. Company insiders own 0.79% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in shares of Conagra Brands by 10.6% in the 4th quarter. Victory Capital Management Inc. now owns 320,201 shares of the company’s stock valued at $12,062,000 after acquiring an additional 30,809 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $277,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $259,000. Public Employees Retirement Association of Colorado lifted its position in shares of Conagra Brands by 2.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 81,375 shares of the company’s stock valued at $3,065,000 after acquiring an additional 2,238 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $161,000. 76.72% of the stock is owned by institutional investors and hedge funds.
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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