Conagra Brands - CAG Stock Forecast, Price & News

Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods 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. The Refrigerated & Frozen segment provides temperature-controlled food products in various retail channels in the United States. The International segment offers food products in various temperature states in retail and foodservice channels outside of the United States. The Foodservice segment offers food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The company sells its products under the Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera brands. The company was formerly known as ConAgra Foods, Inc. and changed its name to Conagra Brands, Inc. in November 2016. Conagra Brands, Inc. was incorporated in 1919 and is headquartered in Chicago, Illinois.

Conagra Brands Stock Performance

CAG traded up $0.05 on Friday, hitting $35.34. 26,620 shares of the stock traded hands, compared to its average volume of 3,103,092. The company has a current ratio of 0.86, a quick ratio of 0.31 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average price of $33.89 and a two-hundred day moving average price of $34.03. The firm has a market capitalization of $16.97 billion, a PE ratio of 19.18, a P/E/G ratio of 2.09 and a beta of 0.59. Conagra Brands has a 52 week low of $30.06 and a 52 week high of $36.97.

Conagra Brands (NYSE:CAG - Get Rating) last announced its earnings results on Thursday, July 14th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. Conagra Brands's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. On average, research analysts predict that Conagra Brands will post 2.41 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Conagra Brands's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 2nd. Conagra Brands's dividend payout ratio is currently 71.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Credit Suisse Group decreased their price target on Conagra Brands from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, July 15th. Morgan Stanley decreased their price target on Conagra Brands from $36.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, July 15th. Citigroup decreased their target price on Conagra Brands from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, July 15th. Finally, UBS Group lifted their target price on Conagra Brands from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, July 8th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.67.

Insider Transactions at Conagra Brands

In other news, Director Emanuel Chirico bought 30,000 shares of the business's stock in a transaction that occurred on Monday, July 25th. The stock was acquired at an average cost of $34.06 per share, for a total transaction of $1,021,800.00. Following the purchase, the director now owns 40,788 shares of the company's stock, valued at approximately $1,389,239.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.40, for a total transaction of $757,737.00. Following the transaction, the chief operating officer now owns 104,859 shares in the company, valued at $3,712,008.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emanuel Chirico purchased 30,000 shares of the firm's stock in a transaction on Monday, July 25th. The stock was bought at an average cost of $34.06 per share, with a total value of $1,021,800.00. Following the completion of the purchase, the director now owns 40,788 shares of the company's stock, valued at approximately $1,389,239.28. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company's stock.