Conagra Brands (NYSE:CAG) Hits New 52-Week Low – Here’s Why

Conagra Brands, Inc. (NYSE:CAG)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $24.91 and last traded at $25.25, with a volume of 550420 shares traded. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAG. Wells Fargo & Company lowered their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America decreased 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. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Price Performance

The firm’s 50 day simple moving average is $26.93 and its two-hundred day simple moving average is $29.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market capitalization of $11.93 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during 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%. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. As a group, analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors have recently added to or reduced their stakes in CAG. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands in the 4th quarter worth approximately $28,000. Grove Bank & Trust grew its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands during the third quarter valued at approximately $47,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Conagra Brands during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.