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.
Analyst Upgrades and Downgrades
CAG has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Conagra Brands from $36.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, July 15th. Credit Suisse Group cut their price target on shares of Conagra Brands from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, July 15th. UBS Group raised their price objective on Conagra Brands from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $35.00 to $32.00 in a research note on Friday, July 15th. Finally, Citigroup reduced their price target on Conagra Brands from $37.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.67.
Conagra Brands Trading Up 1.0 %
NYSE:CAG traded up $0.34 on Tuesday, hitting $35.24. The company's stock had a trading volume of 2,907,275 shares, compared to its average volume of 4,474,825. The firm has a market cap of $16.92 billion, a P/E ratio of 19.15, a PEG ratio of 2.04 and a beta of 0.59. Conagra Brands has a 52-week low of $30.06 and a 52-week high of $36.97. The company's 50-day simple moving average is $33.78 and its 200 day simple moving average is $34.02. The company has a current ratio of 0.86, a quick ratio of 0.31 and a debt-to-equity ratio of 0.91.
Conagra Brands (NYSE:CAG - Get Rating) last announced its quarterly earnings results on Thursday, July 14th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.01. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The firm's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Research analysts predict that Conagra Brands will post 2.41 EPS for the current fiscal year.
Conagra Brands Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Wednesday, August 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.75%. This is a boost from Conagra Brands's previous quarterly dividend of $0.31. Conagra Brands's payout ratio is currently 71.74%.
Insider Buying and Selling
In other news, Director Emanuel Chirico bought 30,000 shares of Conagra Brands stock in a transaction on Monday, July 25th. The shares were purchased at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the acquisition, the director now owns 40,788 shares of the company's stock, valued at $1,389,239.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is owned by insiders.