Conagra Brands (NYSE:CAG) Sets New 52-Week Low - Here's Why

Conagra Brands, Inc. (NYSE:CAG - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The stock traded as low as $26.12 and last traded at $26.22, with a volume of 1150377 shares. The stock had previously closed at $26.60.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAG. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Barclays reduced their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company dropped their price objective on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.56.

Conagra Brands Price Performance

The company's 50-day moving average price is $27.59 and its two-hundred day moving average price is $29.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The company has a market capitalization of $12.38 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. As a group, sell-side analysts expect that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.40%. The ex-dividend date is Monday, January 27th. Conagra Brands's dividend payout ratio (DPR) is 137.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock valued at $373,180,000 after purchasing an additional 196,100 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands 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.