Jefferies Group Equities Analysts Decrease Earnings Estimates for Conagra Brands Inc (CAG)

Conagra Brands Inc (NYSE:CAG) – Research analysts at Jefferies Group reduced their Q3 2018 earnings per share (EPS) estimates for shares of Conagra Brands in a report released on Monday. Jefferies Group analyst A. Jagdale now forecasts that the company will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.53. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Conagra Brands’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.93 EPS, Q2 2019 earnings at $0.60 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $2.12 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.65 EPS and FY2020 earnings at $2.28 EPS.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 21st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS.

Several other analysts also recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the stock a “hold” rating in a report on Monday, December 25th. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. Finally, Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.00.

Shares of Conagra Brands (CAG) traded up $0.13 during mid-day trading on Tuesday, hitting $38.34. 279,413 shares of the stock traded hands, compared to its average volume of 3,114,227. The firm has a market cap of $15,425.44, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.88 and a beta of 0.36. Conagra Brands has a one year low of $32.16 and a one year high of $41.68. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.86.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be paid a dividend of $0.213 per share. The ex-dividend date of this dividend is Monday, January 29th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a yield of 2.22%. Conagra Brands’s dividend payout ratio (DPR) is 50.90%.

In other news, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total transaction of $199,710.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Colleen Batcheler sold 120,451 shares of Conagra Brands stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total value of $4,516,912.50. Following the sale, the executive vice president now owns 211,514 shares in the company, valued at $7,931,775. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,121 shares of company stock worth $5,793,780. Company insiders own 0.79% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Capital Management Inc. increased its holdings in Conagra Brands by 90.2% in the 4th quarter. Twin Capital Management Inc. now owns 80,939 shares of the company’s stock worth $3,049,000 after acquiring an additional 38,392 shares during the last quarter. Stonebridge Capital Management Inc. increased its holdings in Conagra Brands by 40.2% in the 4th quarter. Stonebridge Capital Management Inc. now owns 16,900 shares of the company’s stock worth $620,000 after acquiring an additional 4,850 shares during the last quarter. PGGM Investments increased its holdings in Conagra Brands by 21.4% in the 4th quarter. PGGM Investments now owns 1,352,300 shares of the company’s stock worth $50,941,000 after acquiring an additional 238,336 shares during the last quarter. Kwmg LLC increased its holdings in Conagra Brands by 8.1% in the 4th quarter. Kwmg LLC now owns 48,668 shares of the company’s stock worth $1,833,000 after acquiring an additional 3,647 shares during the last quarter. Finally, Advisor Partners LLC increased its holdings in Conagra Brands by 11.7% in the 4th quarter. Advisor Partners LLC now owns 13,388 shares of the company’s stock worth $506,000 after acquiring an additional 1,399 shares during the last quarter. Institutional investors own 80.25% of the company’s stock.

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Conagra Brands Company Profile

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.

Earnings History and Estimates for Conagra Brands (NYSE:CAG)

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