Conagra Brands (NYSE:CAG) Sets New 1-Year Low - Here's Why

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $24.35 and last traded at $24.53, with a volume of 271942 shares traded. The stock had previously closed at $24.82.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAG shares. Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, December 11th. Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Stifel Nicolaus dropped their price objective on Conagra Brands from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of "Hold" and a consensus target price of $30.33.

Conagra Brands Stock Up 1.0 %

The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.70 and a beta of 0.28. 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 company's 50 day moving average price is $26.55 and its 200 day moving average price is $28.79.

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 company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 yield of 5.60%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands's dividend payout ratio is presently 137.26%.

Institutional Trading of Conagra Brands

Several large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the 4th quarter valued at about $29,000. Grove Bank & Trust raised its stake in shares of Conagra Brands by 65.4% during the 4th 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. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the 3rd quarter valued at about $47,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands in the fourth quarter worth about $41,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.