Conagra Brands (NYSE:CAG) Sets New 12-Month Low – Time to Sell?

Conagra Brands, Inc. (NYSE:CAG)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $24.91 and last traded at $25.25, with a volume of 550420 shares. The stock had previously closed at $25.46.

Analyst Upgrades and Downgrades

CAG has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Finally, Stifel Nicolaus dropped their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Up 0.3 %

The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $26.83 and a 200-day moving average price of $28.96. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.58%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently made changes to their positions in CAG. Courier Capital LLC lifted its holdings in Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after acquiring an additional 355 shares during the last quarter. CWM LLC lifted its holdings in Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after purchasing an additional 359 shares during the period. Empirical Finance LLC boosted its holdings in shares of Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after acquiring an additional 362 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after purchasing an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its position in shares of Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.