Conagra Brands (NYSE:CAG) Sets New 12-Month Low – What’s Next?

Conagra Brands, Inc. (NYSE:CAG)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $26.12 and last traded at $26.22, with a volume of 1150377 shares changing hands. The stock had previously closed at $26.60.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $30.56.

Conagra Brands Stock Performance

The stock has a 50-day moving average of $27.59 and a 200 day moving average of $29.35. The stock has a market cap of $12.50 billion, a PE ratio of 25.43, a P/E/G ratio of 2.91 and a beta of 0.29. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last announced 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 net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Conagra Brands’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts predict that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is presently 137.25%.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds have recently modified their holdings of CAG. Hexagon Capital Partners LLC increased its position 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 acquiring an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter valued at approximately $47,000. ST Germain D J Co. Inc. raised its position in 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 valued at $55,000 after purchasing an additional 529 shares during the period. Kennebec Savings Bank purchased a new stake in Conagra Brands in the third quarter valued at approximately $59,000. Finally, Quarry LP lifted its stake in Conagra Brands by 229.7% during the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after purchasing an additional 1,268 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.