Short Interest in Conagra Brands, Inc. (NYSE:CAG) Increases By 12.8%

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 12,820,000 shares, an increase of 12.8% from the March 31st total of 11,370,000 shares. Based on an average daily volume of 4,850,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.7% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAG. Barclays upped their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, April 8th. Citigroup increased their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Royal Bank of Canada dropped their price target on Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus lifted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.14.

Conagra Brands Price Performance

Shares of CAG stock traded down $0.05 during midday trading on Wednesday, reaching $30.73. 5,616,360 shares of the company were exchanged, compared to its average volume of 5,089,397. The company's 50 day moving average price is $29.35 and its two-hundred day moving average price is $28.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company has a market cap of $14.69 billion, a P/E ratio of 15.46, a PEG ratio of 3.11 and a beta of 0.42. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $38.73.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm posted $0.76 earnings per share. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Conagra Brands will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.56%. Conagra Brands's dividend payout ratio is currently 70.35%.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Czech National Bank lifted its position in shares of Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company's stock valued at $2,493,000 after acquiring an additional 392 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Conagra Brands by 1.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company's stock worth $781,000 after purchasing an additional 393 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Conagra Brands by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company's stock worth $226,000 after buying an additional 403 shares during the period. HM Payson & Co. lifted its stake in Conagra Brands by 18.1% during the third quarter. HM Payson & Co. now owns 2,864 shares of the company's stock valued at $79,000 after buying an additional 439 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company's stock worth $40,000 after acquiring an additional 454 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

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.

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