Equities analysts predict that Conagra Brands Inc (NYSE:CAG) will post earnings per share of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conagra Brands’ earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.43. Conagra Brands reported earnings per share of $0.50 in the same quarter last year, which indicates a negative year-over-year growth rate of 16%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, June 27th.
According to Zacks, analysts expect that Conagra Brands will report full-year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.08. For the next fiscal year, analysts forecast that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.13 to $2.18. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Conagra Brands.
Several equities analysts have recently issued reports on CAG shares. Credit Suisse Group boosted their price target on shares of Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price target for the company. SunTrust Banks started coverage on shares of Conagra Brands in a report on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Goldman Sachs Group set a $32.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.00.
In related news, Director Joie A. Gregor acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were acquired at an average cost of $29.99 per share, with a total value of $299,900.00. Following the transaction, the director now owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Ann Marshall sold 6,717 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.00, for a total transaction of $208,227.00. Following the completion of the sale, the director now directly owns 99,897 shares in the company, valued at $3,096,807. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. First Allied Advisory Services Inc. lifted its position in Conagra Brands by 2.7% during the 1st quarter. First Allied Advisory Services Inc. now owns 14,258 shares of the company’s stock worth $397,000 after buying an additional 371 shares in the last quarter. Old North State Trust LLC lifted its position in Conagra Brands by 23.9% during the 1st quarter. Old North State Trust LLC now owns 1,953 shares of the company’s stock worth $54,000 after buying an additional 377 shares in the last quarter. Eqis Capital Management Inc. lifted its position in Conagra Brands by 4.1% during the 1st quarter. Eqis Capital Management Inc. now owns 9,947 shares of the company’s stock worth $276,000 after buying an additional 396 shares in the last quarter. O Shares Investment Advisers LLC lifted its position in Conagra Brands by 3.0% during the 1st quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the company’s stock worth $388,000 after buying an additional 408 shares in the last quarter. Finally, MainStreet Investment Advisors LLC lifted its position in Conagra Brands by 2.2% during the 1st quarter. MainStreet Investment Advisors LLC now owns 19,336 shares of the company’s stock worth $536,000 after buying an additional 419 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAG stock traded up $0.92 on Tuesday, hitting $29.02. The stock had a trading volume of 257,683 shares, compared to its average volume of 4,038,047. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $39.10. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.89 and a beta of 0.89. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.58 and a current ratio of 1.31. The company has a fifty day simple moving average of $28.86.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, April 30th were given a $0.2125 dividend. The ex-dividend date was Monday, April 29th. This represents a $0.85 annualized dividend and a yield of 2.93%. Conagra Brands’s dividend payout ratio is currently 40.28%.
About Conagra Brands
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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