Conagra Brands (NYSE:CAG) Hits New 52-Week Low – Time to Sell?

Shares of Conagra Brands, Inc. (NYSE:CAG) hit a new 52-week low during trading on Thursday . The company traded as low as $25.43 and last traded at $25.58, with a volume of 4659402 shares trading hands. The stock had previously closed at $26.05.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Bank of America decreased 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 Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.56.

Conagra Brands Stock Up 0.1 %

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 firm has a market capitalization of $12.33 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29. The business’s 50-day moving average price is $27.25 and its 200-day moving average price is $29.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brookstone Capital Management lifted its stake in shares of Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after purchasing an additional 62,187 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after buying an additional 19,329 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Conagra Brands during the 3rd quarter valued at about $1,020,000. Finally, Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Institutional investors and hedge funds 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.