Log in

Brokerages Anticipate Conagra Brands Inc (NYSE:CAG) Will Post Quarterly Sales of $2.61 Billion

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Equities research analysts predict that Conagra Brands Inc (NYSE:CAG) will report $2.61 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Conagra Brands' earnings. The highest sales estimate is $2.63 billion and the lowest is $2.59 billion. Conagra Brands posted sales of $2.39 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The firm is expected to announce its next earnings report before the market opens on Thursday, October 1st.

On average, analysts expect that Conagra Brands will report full year sales of $10.73 billion for the current fiscal year, with estimates ranging from $10.55 billion to $10.97 billion. For the next year, analysts forecast that the business will report sales of $10.81 billion, with estimates ranging from $10.69 billion to $10.92 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Conagra Brands.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.75 EPS for the quarter, topping the Zacks' consensus estimate of $0.66 by $0.09. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.13 billion. Conagra Brands had a net margin of 7.60% and a return on equity of 14.38%. Conagra Brands's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS.

CAG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Conagra Brands from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research report on Tuesday, September 1st. Deutsche Bank upped their price objective on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Morgan Stanley upped their price objective on shares of Conagra Brands from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 1st. Stifel Nicolaus upped their price objective on shares of Conagra Brands from $36.00 to $39.00 in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group restated a "buy" rating and set a $41.00 price objective on shares of Conagra Brands in a research report on Thursday, August 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of "Hold" and an average price target of $35.94.

In related news, EVP Colleen Batcheler sold 6,629 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $36.29, for a total value of $240,566.41. Following the sale, the executive vice president now directly owns 169,873 shares of the company's stock, valued at approximately $6,164,691.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Biegger sold 33,634 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the completion of the sale, the executive vice president now directly owns 66,697 shares in the company, valued at $2,511,809.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,807 shares of company stock worth $10,323,940. 2.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CAG. Public Employees Retirement Association of Colorado boosted its stake in shares of Conagra Brands by 1.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 92,530 shares of the company's stock worth $2,715,000 after purchasing an additional 1,724 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Conagra Brands by 23.1% during the 1st quarter. Russell Investments Group Ltd. now owns 280,933 shares of the company's stock worth $8,159,000 after purchasing an additional 52,710 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Conagra Brands by 10.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 15,607 shares of the company's stock worth $458,000 after purchasing an additional 1,452 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of Conagra Brands by 20.9% during the 1st quarter. IndexIQ Advisors LLC now owns 6,385 shares of the company's stock worth $187,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Conagra Brands by 22.1% during the 1st quarter. Swiss National Bank now owns 2,115,890 shares of the company's stock worth $62,080,000 after purchasing an additional 383,000 shares during the last quarter. 81.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Conagra Brands stock opened at $34.80 on Friday. The company has a market cap of $17.00 billion, a P/E ratio of 20.23, a PEG ratio of 2.06 and a beta of 0.85. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.46 and a current ratio of 0.88. Conagra Brands has a one year low of $22.83 and a one year high of $39.34. The firm has a fifty day moving average of $37.26 and a two-hundred day moving average of $33.71.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Tuesday, August 4th were paid a $0.2125 dividend. The ex-dividend date was Monday, August 3rd. This represents a $0.85 dividend on an annualized basis and a yield of 2.44%. Conagra Brands's payout ratio is 37.28%.

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.

Further Reading: What is Call Option Volume?

Get a free copy of the Zacks research report on Conagra Brands (CAG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Conagra Brands (NYSE:CAG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

8 Stocks Under $10 and On Sale Right Now

During times of market volatility, investors are looking to get return anywhere they can. One approach is to find cheap stocks (i.e. stocks that trade for less than $10). It’s not surprising that many of the cheap stocks can be found on Robinhood. This trading app is popular among millennial investors. And those investors are willing to speculate on cheap stocks.

And it’s easy to see why. Buying 100 shares of a stock that is trading for $5 can seem to be a wise investment if the stock moves higher. After all, if the stock price increases just $1, investors can see a 20% gain.

But that is not always the case. In fact, it’s not usually the case. The trap that some investors fall into is believing that these stocks can be the next Amazon or Apple. And while they do offer a potential reward, they also carry significant risk. It’s important to remember that when a stock is selling for less than $10, there’s usually a reason. And in some cases, it means the stock is under selling pressure.

This is one time when it’s important to remember that inexpensive does not necessarily mean the stock is a good value. However, there are some quality stocks that can be found in the bargain bin. And for many of these stocks, the value is found in a solid dividend that can reward income investors.

View the "8 Stocks Under $10 and On Sale Right Now".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.