Conagra Brands (NYSE:CAG) Reaches New 52-Week Low – What’s Next?

Conagra Brands, Inc. (NYSE:CAG) shares reached a new 52-week low on Friday . The company traded as low as $26.27 and last traded at $26.44, with a volume of 2636744 shares trading hands. The stock had previously closed at $27.45.

Analyst Ratings Changes

CAG has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Down 3.3 %

The stock’s fifty day moving average is $30.32 and its two-hundred day moving average is $30.07. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.67 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm earned $0.66 EPS. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.27%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Institutional Investors Weigh In On Conagra Brands

Institutional investors have recently made changes to their positions in the business. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. LRI Investments LLC bought a new position in Conagra Brands in the 1st quarter worth $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

About Conagra Brands

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.