Conagra Brands (NYSE:CAG) Hits New 52-Week Low - What's Next?

Conagra Brands (NYSE:CAG - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $20.85 and last traded at $20.97, with a volume of 1381448 shares. The stock had previously closed at $21.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CAG shares. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. UBS Group started coverage on shares of Conagra Brands in a report on Monday, June 16th. They issued a "neutral" rating and a $22.00 price target on the stock. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Finally, Wells Fargo & Company lowered their target price on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and an average target price of $25.36.

Conagra Brands Trading Up 0.2%

The stock has a market cap of $9.78 billion, a P/E ratio of 30.14, a PEG ratio of 1.52 and a beta of 0.14. The firm's fifty day moving average price is $22.98 and its two-hundred day moving average price is $25.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were given a $0.35 dividend. The ex-dividend date was Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.83%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAG. Norges Bank purchased a new position in Conagra Brands in the fourth quarter worth $168,877,000. Ameriprise Financial Inc. boosted its position in Conagra Brands by 233.7% during the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company's stock valued at $159,625,000 after buying an additional 4,191,555 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Conagra Brands during the fourth quarter valued at about $110,704,000. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock valued at $217,686,000 after buying an additional 2,702,407 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Conagra Brands by 33.9% during the fourth quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after buying an additional 2,058,000 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

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.