Wall Street brokerages predict that Conagra Brands, Inc. (NYSE:CAG) will report sales of $3.00 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Conagra Brands’ earnings, with the lowest sales estimate coming in at $2.94 billion and the highest estimate coming in at $3.05 billion. Conagra Brands also reported sales of $3.00 billion in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Thursday, January 6th.
On average, analysts expect that Conagra Brands will report full-year sales of $11.18 billion for the current fiscal year, with estimates ranging from $10.96 billion to $11.27 billion. For the next financial year, analysts expect that the business will report sales of $11.36 billion, with estimates ranging from $11.15 billion to $11.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Conagra Brands.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.53 billion. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS.
In related news, EVP Colleen Batcheler sold 6,210 shares of the stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $34.96, for a total value of $217,101.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard H. Lenny bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 15th. The stock was purchased at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the acquisition, the director now owns 128,261 shares in the company, valued at $4,378,830.54. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CAG. Baldwin Brothers Inc. MA bought a new position in Conagra Brands during the 2nd quarter valued at $29,000. E Fund Management Co. Ltd. bought a new position in Conagra Brands during the 1st quarter valued at $32,000. Evoke Wealth LLC lifted its stake in Conagra Brands by 591.3% during the 1st quarter. Evoke Wealth LLC now owns 878 shares of the company’s stock valued at $33,000 after acquiring an additional 751 shares in the last quarter. AGF Investments LLC bought a new position in Conagra Brands during the 2nd quarter valued at $34,000. Finally, Arkadios Wealth Advisors lifted its stake in Conagra Brands by 208.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 995 shares of the company’s stock valued at $36,000 after acquiring an additional 672 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.
NYSE CAG traded down $0.25 during trading hours on Wednesday, reaching $33.16. The company’s stock had a trading volume of 3,615,651 shares, compared to its average volume of 3,595,520. The firm has a fifty day simple moving average of $33.45 and a 200-day simple moving average of $35.59. The stock has a market cap of $15.91 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.91 and a beta of 0.88. Conagra Brands has a 52 week low of $32.25 and a 52 week high of $39.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.29.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, October 29th. Conagra Brands’s dividend payout ratio (DPR) is 47.35%.
About Conagra Brands
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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