Brokerages expect Conagra Brands Inc (NYSE:CAG) to report sales of $2.48 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Conagra Brands’ earnings. The highest sales estimate is $2.51 billion and the lowest is $2.44 billion. Conagra Brands posted sales of $1.83 billion during the same quarter last year, which suggests a positive year over year growth rate of 35.5%. The company is scheduled to report its next quarterly earnings results on Thursday, September 26th.
On average, analysts expect that Conagra Brands will report full-year sales of $10.83 billion for the current fiscal year, with estimates ranging from $10.79 billion to $10.90 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $10.84 billion, with estimates ranging from $10.75 billion to $11.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Conagra Brands.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis.
In other news, Director Craig P. Omtvedt purchased 25,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $26.73 per share, with a total value of $668,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Ann Marshall sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $27.00, for a total transaction of $81,000.00. Following the sale, the director now directly owns 102,387 shares in the company, valued at approximately $2,764,449. The disclosure for this sale can be found here. In the last three months, insiders sold 17,717 shares of company stock worth $517,077. 0.92% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. raised its holdings in shares of Conagra Brands by 2.3% in the 2nd quarter. Bessemer Group Inc. now owns 19,911 shares of the company’s stock worth $528,000 after acquiring an additional 457 shares during the last quarter. Vigilant Capital Management LLC raised its holdings in shares of Conagra Brands by 1.4% in the 2nd quarter. Vigilant Capital Management LLC now owns 434,590 shares of the company’s stock worth $11,525,000 after acquiring an additional 5,820 shares during the last quarter. American National Bank raised its holdings in shares of Conagra Brands by 16.2% in the 2nd quarter. American National Bank now owns 13,732 shares of the company’s stock worth $364,000 after acquiring an additional 1,917 shares during the last quarter. NEXT Financial Group Inc raised its holdings in shares of Conagra Brands by 5,952.5% in the 2nd quarter. NEXT Financial Group Inc now owns 13,376 shares of the company’s stock worth $355,000 after acquiring an additional 13,155 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter worth about $1,004,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.
CAG traded down $0.21 during trading on Friday, hitting $28.90. 4,504,972 shares of the stock traded hands, compared to its average volume of 6,580,547. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $38.43. The firm has a market cap of $14.14 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.54 and a current ratio of 1.28. The business’s 50 day moving average is $28.36.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.94%. Conagra Brands’s dividend payout ratio is 42.29%.
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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