Conagra Brands (NYSE:CAG) Reaches New 1-Year Low – Should You Sell?

Conagra Brands, Inc. (NYSE:CAG)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.81 and last traded at $21.84, with a volume of 1373744 shares trading hands. The stock had previously closed at $22.37.

Analyst Ratings Changes

CAG has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $27.00 to $20.00 in a research note on Thursday. Wells Fargo & Company decreased their price target on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, June 2nd. Finally, Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.70.

Conagra Brands Trading Down 3.3%

The company’s 50 day simple moving average is $23.65 and its 200-day simple moving average is $25.41. The firm has a market cap of $10.29 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.76 and a beta of 0.14. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.50%. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

Institutional Trading of Conagra Brands

Large investors have recently made changes to their positions in the stock. Inspire Investing LLC lifted its holdings in Conagra Brands by 6.3% during the 1st quarter. Inspire Investing LLC now owns 54,092 shares of the company’s stock valued at $1,443,000 after buying an additional 3,209 shares in the last quarter. WBI Investments LLC increased its position in shares of Conagra Brands by 9.1% during the first quarter. WBI Investments LLC now owns 113,135 shares of the company’s stock worth $3,017,000 after acquiring an additional 9,419 shares during the period. Intech Investment Management LLC raised its stake in shares of Conagra Brands by 50.6% during the first quarter. Intech Investment Management LLC now owns 140,485 shares of the company’s stock valued at $3,747,000 after acquiring an additional 47,186 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Conagra Brands by 217.7% in the first quarter. Bayforest Capital Ltd now owns 13,327 shares of the company’s stock valued at $355,000 after purchasing an additional 9,132 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Conagra Brands by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,622,873 shares of the company’s stock valued at $96,622,000 after purchasing an additional 41,886 shares during the period. 83.75% of the stock is owned by hedge funds and other 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.