Conagra Brands (NYSE:CAG) Reaches New 52-Week Low - What's Next?

Conagra Brands, Inc. (NYSE:CAG - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.27 and last traded at $26.44, with a volume of 2636744 shares traded. The stock had previously closed at $27.45.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 price target for the company. Six investment 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 data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.63.

Conagra Brands Price Performance

The company has a fifty day moving average of $30.20 and a 200-day moving average of $30.03. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a market cap of $12.74 billion, a PE ratio of 25.92, a P/E/G ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.24%. Conagra Brands's dividend payout ratio (DPR) is 135.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after buying an additional 420 shares in the last quarter. LRI Investments LLC purchased a new stake in Conagra Brands during the 1st quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands during the 3rd quarter worth about $47,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.