Why Conagra Brands Inc (CAG) Should Be On Your Radar Moving Forward

The stock of Conagra Brands Inc (NYSE:CAG) last traded at $27.94, up 0.68% from the previous session.

Data from the available sources indicates that Conagra Brands Inc (NYSE:CAG) is covered by 16 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $33.00 and a low of $28.00, we find $29.50. Given the previous closing price of $27.75, this indicates a potential upside of 6.31 percent. CAG stock price is now 0.18% away from the 50-day moving average and -15.97% away from the 200-day moving average. The market capitalization of the company currently stands at $13.35B.

In total, 12 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $30.07 as their price target over the next twelve months.

With the price target of $32, TD Cowen recently initiated with Market Perform rating for Conagra Brands Inc (NYSE: CAG).

In other news, LENNY RICHARD H, Director bought 9,238 shares of the company’s stock on Oct 09. The stock was bought for $252,290 at an average price of $27.31. Upon completion of the transaction, the Director now directly owns 165,205 shares in the company, valued at $4.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02, EVP & Co-COO McGough Thomas M sold 75,522 shares of the business’s stock. A total of $2,497,513 was realized by selling the stock at an average price of $33.07. This leaves the insider owning 157,125 shares of the company worth $4.39 million. Insiders disposed of 430,379 shares of company stock worth roughly $12.02 million over the past 1 year. A total of 0.52% of the company’s stock is owned by insiders.

With an opening price of $27.88 on Thursday morning, Conagra Brands Inc (NYSE: CAG) set off the trading day. During the past 12 months, Conagra Brands Inc has had a low of $25.16 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 0.91, and a quick ratio of 0.30. According to the stock market information, the enterprise value for the company is $22.53B, which is based on a 12.41 price-to-earnings ratio, a 1.61 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for CAG is $27.89 and a two-hundred day moving average price translates $33.25 for the stock.

The latest earnings results from Conagra Brands Inc (NYSE: CAG) was released for Aug, 2023. According to the Packaged Foods Company, earnings per share came in at $0.66, beating analysts’ expectations of $0.6 by 0.06. This compares to -$0.16 EPS in the same period last year. The net profit margin was 8.80% and return on equity was 12.43% for CAG. The company reported revenue of $2.9 billion for the quarter, compared to $2.9 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.01 percent. For the current quarter, analysts expect CAG to generate $3.25B in revenue.

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.

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