Conagra Brands (NYSE:CAG) Hits New 1-Year Low - Here's What Happened

Conagra Brands, Inc. (NYSE:CAG - Get Free Report)'s share price hit a new 52-week low on Monday . The stock traded as low as $24.35 and last traded at $24.53, with a volume of 271942 shares. The stock had previously closed at $24.82.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company lowered their target price on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Stifel Nicolaus lowered their target price on Conagra Brands from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Finally, Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Seven equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.33.

Conagra Brands Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $28.73. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.70 and a beta of 0.28.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm's revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands's dividend payout ratio is currently 137.26%.

Institutional Trading of Conagra Brands

Large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands during the fourth quarter worth $29,000. Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

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.