Conagra Brands (CAG) Posts Earnings Results, Beats Estimates By $0.12 EPS

Conagra Brands (NYSE:CAG) announced its quarterly earnings results on Thursday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.12, Bloomberg Earnings reports. Conagra Brands had a return on equity of 19.45% and a net margin of 9.07%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Conagra Brands updated its FY 2019 guidance to $2.03-2.08 EPS and its FY19 guidance to $2.03-2.08 EPS.

Conagra Brands stock opened at $22.15 on Friday. The company has a quick ratio of 0.39, a current ratio of 1.47 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $9.51 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.14. Conagra Brands has a 1-year low of $22.03 and a 1-year high of $39.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, January 30th will be given a $0.2125 dividend. The ex-dividend date of this dividend is Tuesday, January 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.84%. Conagra Brands’s payout ratio is 40.28%.



CAG has been the topic of a number of analyst reports. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, August 29th. Jefferies Financial Group set a $44.00 price target on Conagra Brands and gave the company a “buy” rating in a report on Thursday, September 27th. ValuEngine downgraded Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. UBS Group upgraded Conagra Brands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $40.00 in a report on Monday, October 8th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price target on shares of Conagra Brands in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Conagra Brands has a consensus rating of “Buy” and a consensus price target of $42.60.

In other Conagra Brands news, Director Thomas K. Brown acquired 7,092 shares of the stock in a transaction dated Friday, October 12th. The stock was purchased at an average price of $35.25 per share, with a total value of $249,993.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sean Connolly acquired 14,184 shares of the stock in a transaction dated Friday, October 12th. The stock was acquired at an average cost of $35.25 per share, with a total value of $499,986.00. Following the transaction, the insider now directly owns 217,607 shares in the company, valued at $7,670,646.75. The disclosure for this purchase can be found here. Insiders bought a total of 24,112 shares of company stock valued at $849,948 in the last three months. Insiders own 0.92% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Fort L.P. acquired a new stake in Conagra Brands during the 2nd quarter worth about $117,000. JNBA Financial Advisors lifted its position in Conagra Brands by 761.4% during the 3rd quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock worth $149,000 after acquiring an additional 3,883 shares during the period. IMS Capital Management lifted its position in Conagra Brands by 780.0% during the 3rd quarter. IMS Capital Management now owns 4,400 shares of the company’s stock worth $149,000 after acquiring an additional 3,900 shares during the period. Vectors Research Management LLC acquired a new stake in Conagra Brands during the 3rd quarter worth about $165,000. Finally, Bray Capital Advisors acquired a new stake in Conagra Brands during the 3rd quarter worth about $170,000. 87.03% of the stock is owned by hedge funds and other institutional investors.

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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 for Conagra Brands (NYSE:CAG)

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