Conagra Brands (NYSE:CAG) Sees Unusually-High Trading Volume - Still a Buy?

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 5,169,702 shares were traded during mid-day trading, an increase of 3% from the previous session's volume of 4,998,225 shares.The stock last traded at $25.88 and had previously closed at $25.79.

Analysts Set New Price Targets

CAG has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Finally, BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of "Hold" and an average target price of $30.56.

Conagra Brands Trading Up 0.1 %

The firm's 50 day simple moving average is $27.25 and its two-hundred day simple moving average is $29.25. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock has a market cap of $12.33 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.42%. Conagra Brands's payout ratio is currently 137.26%.

Institutional Investors Weigh In On Conagra Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after buying an additional 1,691,945 shares during the period. Nordea Investment Management AB boosted its position in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after acquiring an additional 618,096 shares during the period. Geode Capital Management LLC grew its stake in shares of Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock worth $373,180,000 after purchasing an additional 196,100 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock valued at $204,571,000 after purchasing an additional 122,590 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

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.