Conagra Brands Sees Unusually High Options Volume (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors bought 5,792 put options on the stock. This represents an increase of 44% compared to the typical daily volume of 4,031 put options.

Conagra Brands Stock Down 2.6 %

Shares of NYSE:CAG traded down $0.69 during trading on Monday, hitting $25.99. 9,638,013 shares of the company were exchanged, compared to its average volume of 5,096,689. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.76 and a beta of 0.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a fifty day moving average price of $25.74 and a two-hundred day moving average price of $27.40.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.39%. Conagra Brands's dividend payout ratio (DPR) is currently 205.88%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Morgan Stanley started coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and dropped their target price for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Conagra Brands has an average rating of "Hold" and a consensus price target of $27.90.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after buying an additional 1,132,839 shares during the last quarter. State Street Corp increased its holdings 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 during the last quarter. Nordea Investment Management AB raised its stake in 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 acquiring an additional 618,096 shares during the period. Geode Capital Management LLC lifted its holdings in Conagra Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after purchasing an additional 231,477 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after purchasing an additional 1,745,319 shares during the period. 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.