Conagra Brands (NYSE:CAG) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.49-0.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.51. Conagra Brands also updated its FY 2022
Pre-Market guidance to 2.63-2.73 EPS.
A number of research firms have recently weighed in on CAG. Jefferies Financial Group began coverage on Conagra Brands in a research note on Friday, January 8th. They issued a buy rating and a $41.00 price objective for the company. Credit Suisse Group upped their price objective on Conagra Brands from $33.00 to $34.00 and gave the stock an underperform rating in a research note on Monday, March 29th. Finally, Zacks Investment Research raised Conagra Brands from a sell rating to a hold rating and set a $36.00 price objective for the company in a research note on Monday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Conagra Brands presently has an average rating of Hold and a consensus price target of $36.71.
NYSE:CAG opened at $37.24 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.35 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $18.19 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.86 and a beta of 0.86. Conagra Brands has a 12 month low of $30.12 and a 12 month high of $39.34. The business’s 50-day moving average is $36.31 and its 200 day moving average is $35.81.
In other Conagra Brands news, COO Thomas M. Mcgough sold 45,660 shares of the company’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the sale, the chief operating officer now directly owns 102,001 shares in the company, valued at $3,830,137.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas M. Mcgough sold 24,340 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $37.50, for a total value of $912,750.00. Following the sale, the chief operating officer now owns 80,681 shares in the company, valued at $3,025,537.50. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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