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

Conagra Brands (NYSE:CAG) hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.87 and last traded at $15.9250, with a volume of 1468359 shares trading hands. The stock had previously closed at $16.19.

Analyst Ratings Changes

CAG has been the topic of several recent analyst reports. Jefferies Financial Group lowered their price target on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Wells Fargo & Company reissued an “underweight” rating and issued a $15.00 price objective (down from $20.00) on shares of Conagra Brands in a report on Thursday, March 12th. Royal Bank Of Canada lowered their target price on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a report on Monday, December 22nd. UBS Group reaffirmed a “neutral” rating and set a $20.00 price target on shares of Conagra Brands in a research report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $18.71.

Conagra Brands Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The stock’s 50-day simple moving average is $18.15 and its 200 day simple moving average is $18.04. The stock has a market capitalization of $7.59 billion, a P/E ratio of -72.16 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The company’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Research analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Tuesday, January 27th. Conagra Brands’s payout ratio is currently -636.36%.

Institutional Trading of Conagra Brands

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Conagra Brands by 45.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock worth $6,485,000 after acquiring an additional 106,891 shares during the period. Hsbc Holdings PLC increased its position in shares of Conagra Brands by 20.0% in the second quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after purchasing an additional 208,450 shares during the period. AE Wealth Management LLC increased its position in shares of Conagra Brands by 13.7% in the third quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after purchasing an additional 86,604 shares during the period. JPMorgan Chase & Co. raised its stake in Conagra Brands by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock valued at $55,323,000 after purchasing an additional 408,597 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Conagra Brands during the third quarter worth about $7,310,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.