The price of Conagra Brands Inc. (NYSE:CAG) shares last traded on Wall Street fell -0.56% to $30.11.
CAG stock price is now -6.80% away from the 50-day moving average and -15.82% away from the 200-day moving average. The market capitalization of the company currently stands at $14.22B.
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With the price target reduced from $46 to $37, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Conagra Brands Inc. (NYSE: CAG).
In other news, McGough Thomas M, EVP & Co-COO sold 75,522 shares of the company’s stock on Aug 02. The stock was sold for $2,497,513 at an average price of $33.07. Upon completion of the transaction, the EVP & Co-COO now directly owns 157,125 shares in the company, valued at $4.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 14, EVP, Chief HR Officer Brock Charisse sold 7,036 shares of the business’s stock. A total of $260,613 was realized by selling the stock at an average price of $37.04. This leaves the insider owning 94,802 shares of the company worth $2.85 million. Insiders disposed of 436,283 shares of company stock worth roughly $13.14 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 ABEILLE ASSET MANAGEMENT SA during the first quarter worth $19,293,000. BAHL & GAYNOR INC invested $7,187,000 in shares of CAG during the first quarter. In the first quarter, M&G INVESTMENT MANAGEMENT LTD acquired a new stake in Conagra Brands Inc. valued at approximately $6,538,000. ERGOTELES LLC acquired a new stake in CAG for approximately $4,798,000. JEFFERIES FINANCIAL GROUP INC. purchased a new stake in CAG valued at around $2,604,000 in the second quarter. In total, there are 1,214 active investors with 84.10% ownership of the company’s stock.
During the past 12 months, Conagra Brands Inc. has had a low of $29.48 and a high of $41.30. As of last week, the company has a debt-to-equity ratio of 1.06, a current ratio of 0.80, and a quick ratio of 0.30. According to the stock market information, the enterprise value for the company is $23.72B, which is based on a 21.14 price-to-earnings ratio, a 2.75 price-to-earnings-growth ratio, and a beta of 0.54. The fifty day moving average price for CAG is $32.22 and a two-hundred day moving average price translates $35.74 for the stock.
The latest earnings results from Conagra Brands Inc. (NYSE: CAG) was released for May, 2023. According to the Packaged Foods Company, earnings per share came in at $0.62, beating analysts’ expectations of $0.59 by 0.03. This compares to $0.33 EPS in the same period last year. The net profit margin was 5.60% and return on equity was 7.90% for CAG. The company reported revenue of $2.97 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 2.18 percent. For the current quarter, analysts expect CAG to generate $2.96B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/31/2023. Investors who held shares on 07/31/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 4.65% percent yield. There was an ex-dividend date of 07/28/2023 for this dividend. In terms of dividend payout ratio, CAG is presently at 91.10%.
Conagra Brands Inc.(CAG) Company Profile
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. The Refrigerated & Frozen segment provides temperature-controlled food products through various retail channels. 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. The company sells its products under the Birds Eye, Marie Callender’s, Duncan Hines, Healthy Choice, Slim Jim, Reddi-wip, Angie’s, BOOMCHICKAPOP, Duke’s, Earth Balance, Gardein, and Frontera brands. The company was incorporated in 1919 and is headquartered in Chicago, Illinois.
