Conagra Brands (NYSE:CAG) Sets New 52-Week Low – Here’s What Happened

Shares of Conagra Brands, Inc. (NYSE:CAG) reached a new 52-week low during trading on Wednesday . The stock traded as low as $25.27 and last traded at $25.58, with a volume of 335076 shares traded. The stock had previously closed at $25.70.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Bank of America cut their price objective 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $30.56.

Conagra Brands Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.10 billion, a PE ratio of 24.86, a P/E/G ratio of 1.72 and a beta of 0.29. The stock has a 50-day simple moving average of $27.08 and a 200 day simple moving average of $29.17.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. Conagra Brands’s dividend payout ratio is currently 137.25%.

Institutional Investors Weigh In On Conagra Brands

A number of large investors have recently bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands in the fourth quarter valued at $28,000. Hexagon Capital Partners LLC lifted its stake in shares of Conagra Brands by 82.8% during the third 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. Grove Bank & Trust boosted its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter worth about $47,000. Finally, ST Germain D J Co. Inc. boosted its position in shares of Conagra Brands by 36.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares during the last quarter. Institutional investors and hedge funds 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.