Wall Street brokerages expect Conagra Brands Inc. (NYSE:CAG) to report $2.06 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for Conagra Brands’ earnings, with estimates ranging from $2.04 billion to $2.08 billion. Conagra Brands posted sales of $2.09 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, December 28th.
On average, analysts expect that Conagra Brands will report full year sales of $2.06 billion for the current fiscal year, with estimates ranging from $7.71 billion to $7.81 billion. For the next financial year, analysts forecast that the company will post sales of $7.83 billion per share, with estimates ranging from $7.55 billion to $7.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Conagra Brands.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company posted $0.37 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year.
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a research note on Friday, September 29th. Credit Suisse Group reiterated a “hold” rating and issued a $39.00 price target on shares of Conagra Brands in a research note on Friday, August 11th. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, November 22nd. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $40.03.
Conagra Brands (NYSE CAG) opened at $37.93 on Tuesday. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $41.68. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $15,306.42, a price-to-earnings ratio of 20.82, a PEG ratio of 2.83 and a beta of 0.37.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, October 13th were issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is 60.28%.
In related news, EVP Colleen Batcheler sold 133,869 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXA lifted its holdings in Conagra Brands by 324.3% during the 3rd quarter. AXA now owns 977,611 shares of the company’s stock worth $32,985,000 after buying an additional 747,211 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Conagra Brands by 262.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,794 shares of the company’s stock worth $263,000 after buying an additional 5,644 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Conagra Brands during the 3rd quarter worth about $521,000. Garde Capital Inc. acquired a new position in Conagra Brands during the 3rd quarter worth about $577,000. Finally, Americafirst Capital Management LLC acquired a new position in Conagra Brands during the 3rd quarter worth about $650,000. 79.04% of the stock is currently owned by institutional investors.
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About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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