Conagra Brands (NYSE:CAG) Sets New 52-Week Low – Time to Sell?

Conagra Brands, Inc. (NYSE:CAG)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $26.12 and last traded at $26.22, with a volume of 1150377 shares changing hands. The stock had previously closed at $26.60.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAG shares. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Barclays cut their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Price Performance

The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $27.53 and a 200-day moving average of $29.33. The stock has a market capitalization of $12.38 billion, a P/E ratio of 25.18, a PEG ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.40%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its stake in Conagra Brands by 110.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Conagra Brands in the third quarter valued at $1,020,000. Nordea Investment Management AB boosted its stake in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Finally, Swedbank AB grew its holdings in Conagra Brands by 3.1% during the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock worth $21,934,000 after acquiring an additional 20,384 shares during the period. 83.75% of the stock is currently owned by 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.