The stock of Conagra Brands Inc. (NYSE:CAG) last traded at $36.44, down -0.27% from the previous session.
CAG stock price is now -1.66% away from the 50-day moving average and 0.44% away from the 200-day moving average. The market capitalization of the company currently stands at $17.26B.
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On March 20, 2023, Deutsche Bank Upgraded its previous ‘Sell’ rating to ‘Hold’ on the stock keeping its target price maintained at $35, while ‘Morgan Stanley’ rates the stock as ‘Overweight’.
In other news, Brock Charisse, EVP, Chief HR Officer sold 7,036 shares of the company’s stock on Apr 14. The stock was sold for $260,613 at an average price of $37.04. Upon completion of the transaction, the EVP, Chief HR Officer now directly owns 94,802 shares in the company, valued at $3.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 06, EVP & Co-COO McGough Thomas M sold 45,000 shares of the business’s stock. A total of $1,739,610 was realized by selling the stock at an average price of $38.66. This leaves the insider owning 104,859 shares of the company worth $3.82 million. Insiders disposed of 186,826 shares of company stock worth roughly $6.81 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CAG stock. A new stake in Conagra Brands Inc. shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $1,210,268,000. ABEILLE ASSET MANAGEMENT SA invested $23,350,000 in shares of CAG during the first quarter. In the first quarter, HALLMARK CAPITAL MANAGEMENT INC acquired a new stake in Conagra Brands Inc. valued at approximately $17,633,000. PAYDEN & RYGEL acquired a new stake in CAG for approximately $15,870,000. ARTEMIS INVESTMENT MANAGEMENT LLP purchased a new stake in CAG valued at around $8,810,000 in the second quarter. In total, there are 1,204 active investors with 84.10% ownership of the company’s stock.
With an opening price of $36.45 on Tuesday morning, Conagra Brands Inc. (NYSE: CAG) set off the trading day. During the past 12 months, Conagra Brands Inc. has had a low of $31.01 and a high of $41.30. As of last week, the company has a debt-to-equity ratio of 1.04, a current ratio of 1.00, and a quick ratio of 0.30. According to the stock market information, the enterprise value for the company is $27.04B, which is based on a 21.76 price-to-earnings ratio, a 2.64 price-to-earnings-growth ratio, and a beta of 0.56. The fifty day moving average price for CAG is $37.07 and a two-hundred day moving average price translates $36.29 for the stock.
The latest earnings results from Conagra Brands Inc. (NYSE: CAG) was released for Feb, 2023. According to the Packaged Foods Company, earnings per share came in at $0.76, beating analysts’ expectations of $0.64 by 0.12. This compares to $0.45 EPS in the same period last year. The net profit margin was 6.60% and return on equity was 9.20% for CAG. The company reported revenue of $3.09 billion for the quarter, compared to $2.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.93 percent. For the current quarter, analysts expect CAG to generate $3.04B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/01/2023. Investors who held shares on 04/28/2023 were paid a $0.33 dividend. On an annualized basis, this represents a $1.32 dividend and a 3.62% percent yield. There was an ex-dividend date of 04/27/2023 for this dividend. In terms of dividend payout ratio, CAG is presently at 76.40%.
Conagra Brands Inc.(CAG) Company Profile
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States. The Refrigerated & Frozen segment provides temperature-controlled food products through various retail channels in the United States. The International segment offers food products in various temperature states through retail and foodservice channels outside of the United States. The Foodservice segment offers branded and customized food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for 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 founded in 1919 and is headquartered in Chicago, Illinois.
