Conagra Brands (NYSE:CAG) Hits New 1-Year Low – Here’s Why

Shares of Conagra Brands, Inc. (NYSE:CAG) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $25.27 and last traded at $25.58, with a volume of 335076 shares changing hands. The stock had previously closed at $25.70.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of research reports. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.56.

Conagra Brands Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $27.17 and a 200 day moving average of $29.22. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.75 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.46 EPS 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. 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 5.54%. Conagra Brands’s dividend payout ratio is presently 137.26%.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV lifted its position in Conagra Brands by 297.7% in the fourth quarter. KBC Group NV now owns 309,469 shares of the company’s stock worth $8,587,000 after purchasing an additional 231,654 shares during the period. Blue Trust Inc. lifted its position in Conagra Brands by 15.3% in the fourth quarter. Blue Trust Inc. now owns 9,019 shares of the company’s stock worth $250,000 after purchasing an additional 1,195 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in Conagra Brands in the fourth quarter worth approximately $218,000. Fifth Third Bancorp lifted its position in shares of Conagra Brands by 10.1% during the 4th quarter. Fifth Third Bancorp now owns 18,479 shares of the company’s stock valued at $513,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Conagra Brands by 15.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,519 shares of the company’s stock valued at $986,000 after acquiring an additional 4,678 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Company Profile

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.