Conagra Brands Inc (NYSE:CAG) shares traded 0.96% higher at $31.57 on Wall Street last session.
CAG stock price is now 9.09% away from the 50-day moving average and 8.29% away from the 200-day moving average. The market capitalization of the company currently stands at $15.09B.
With the price target of $30, Citigroup recently initiated with Neutral rating for Conagra Brands Inc (NYSE: CAG). On December 12, 2023, Wells Fargo recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $31, while ‘Evercore ISI’ rates the stock as ‘In-line’
In other news, LENNY RICHARD H, Director bought 9,238 shares of the company’s stock on Oct 09 ’23. 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 $5.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02 ’23, 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 $4.96 million. A total of 0.49% of the company’s stock is owned by insiders.
During the past 12 months, Conagra Brands Inc has had a low of $25.16 and a high of $38.73. As of last week, the company has a debt-to-equity ratio of 0.95, a current ratio of 0.95, and a quick ratio of 0.33.
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 $0.71 EPS in the same period last year. The net profit margin was 7.86% and return on equity was 10.57% for CAG. The company reported revenue of $3.03 billion for the quarter, compared to $3.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.74 percent. For the current quarter, analysts expect CAG to generate $2.93B in revenue.
