Conagra Brands, Inc. (NYSE:CAG) was the target of some unusual options trading on Wednesday. Stock traders acquired 7,655 put options on the company. This represents an increase of approximately 1,131% compared to the average daily volume of 622 put options.
A number of equities analysts have commented on CAG shares. Jefferies Financial Group initiated coverage on Conagra Brands in a report on Friday, January 8th. They set a “buy” rating and a $41.00 target price for the company. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a research report on Monday, January 11th. Finally, Credit Suisse Group upped their price objective on shares of Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.71.
In related news, COO Thomas M. Mcgough sold 45,660 shares of the company’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the completion of the transaction, the chief operating officer now owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Lenny acquired 10,000 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was acquired at an average price of $33.70 per share, with a total value of $337,000.00. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
Shares of Conagra Brands stock opened at $37.24 on Thursday. The business’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $35.81. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $18.19 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Conagra Brands has a 52 week low of $30.12 and a 52 week high of $39.34.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, January 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands will post 2.6 earnings per share for the current year.
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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