Equities analysts expect that Conagra Brands Inc (NYSE:CAG) will post $1.94 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Conagra Brands’ earnings. The highest sales estimate is $1.96 billion and the lowest is $1.93 billion. Conagra Brands reported sales of $1.86 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, June 28th.
On average, analysts expect that Conagra Brands will report full-year sales of $7.91 billion for the current financial year, with estimates ranging from $7.90 billion to $7.93 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.04 billion per share, with estimates ranging from $7.99 billion to $8.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Conagra Brands.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis.
Several equities research analysts recently weighed in on CAG shares. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, February 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $44.00 target price on shares of Conagra Brands in a report on Thursday, March 22nd. UBS Group lifted their target price on Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 target price on shares of Conagra Brands in a report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.78.
CAG traded up $0.25 during trading hours on Monday, hitting $38.20. The stock had a trading volume of 1,778,500 shares, compared to its average volume of 3,052,475. Conagra Brands has a 1 year low of $32.16 and a 1 year high of $39.42. The firm has a market cap of $15.09 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.03.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Monday, April 30th were issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, April 27th. Conagra Brands’s payout ratio is 48.85%.
In other news, SVP Robert G. Wise sold 5,908 shares of the business’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the transaction, the senior vice president now owns 22,781 shares of the company’s stock, valued at $845,630.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $35.86, for a total value of $216,809.56. The disclosure for this sale can be found here. Insiders have sold 24,046 shares of company stock valued at $885,695 in the last three months. 0.79% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Pitcairn Co. lifted its position in Conagra Brands by 19.1% in the 1st quarter. Pitcairn Co. now owns 8,464 shares of the company’s stock worth $312,000 after buying an additional 1,358 shares during the last quarter. Eos Focused Equity Management L.P. lifted its position in Conagra Brands by 1.7% in the 1st quarter. Eos Focused Equity Management L.P. now owns 85,289 shares of the company’s stock worth $3,145,000 after buying an additional 1,397 shares during the last quarter. Hunter Associates Investment Management LLC lifted its position in Conagra Brands by 11.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 13,835 shares of the company’s stock worth $521,000 after buying an additional 1,400 shares during the last quarter. Azimuth Capital Management LLC lifted its position in Conagra Brands by 9.7% in the 1st quarter. Azimuth Capital Management LLC now owns 18,092 shares of the company’s stock worth $667,000 after buying an additional 1,600 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Conagra Brands by 1.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 122,839 shares of the company’s stock worth $4,530,000 after buying an additional 1,660 shares during the last quarter. Institutional investors own 76.72% of the company’s stock.
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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