Conagra Brands (NYSE:CAG) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Conagra Brands (NYSE:CAG) released its earnings results on Wednesday. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04), MarketWatch Earnings reports. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.02 billion. Conagra Brands had a net margin of 10.80% and a return on equity of 13.92%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share.

Shares of NYSE:CAG traded up $1.22 on Friday, reaching $34.75. The company had a trading volume of 6,174,776 shares, compared to its average volume of 6,184,414. The stock has a market capitalization of $16.67 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.98 and a beta of 0.85. The stock has a 50-day moving average price of $32.60 and a 200 day moving average price of $33.46. Conagra Brands has a twelve month low of $30.44 and a twelve month high of $39.09. The company has a quick ratio of 0.33, a current ratio of 0.96 and a debt-to-equity ratio of 1.02.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 2nd. Investors of record on Monday, January 31st will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Friday, January 28th. Conagra Brands’s dividend payout ratio is presently 50.40%.

Several research firms have recently weighed in on CAG. JPMorgan Chase & Co. lowered Conagra Brands from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $41.00 to $38.00 in a research note on Friday, October 8th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday. Credit Suisse Group raised shares of Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 target price on the stock in a research report on Wednesday, September 29th. UBS Group downgraded shares of Conagra Brands from a “buy” rating to a “sell” rating in a research report on Friday, October 8th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $38.00 price objective on shares of Conagra Brands in a research report on Friday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $37.09.

A number of hedge funds have recently made changes to their positions in the business. AGF Investments LLC bought a new stake in shares of Conagra Brands during the 2nd quarter worth $34,000. Strategic Blueprint LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth about $37,000. SouthState Corp bought a new stake in Conagra Brands during the 3rd quarter valued at approximately $36,000. Ellevest Inc. grew its holdings in Conagra Brands by 161.2% in the 3rd quarter. Ellevest Inc. now owns 1,097 shares of the company’s stock valued at $37,000 after buying an additional 677 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its position in Conagra Brands by 37.5% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,100 shares of the company’s stock worth $40,000 after buying an additional 300 shares during the period. Institutional investors own 83.38% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Earnings History for Conagra Brands (NYSE:CAG)

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