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

Shares of Conagra Brands (NYSE:CAG) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.57 and last traded at $13.6050, with a volume of 3426082 shares changing hands. The stock had previously closed at $13.67.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, March 30th. The Goldman Sachs Group decreased their price objective on Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, April 2nd. Sanford C. Bernstein dropped their price objective on Conagra Brands from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, April 2nd. UBS Group cut their target price on Conagra Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, Stifel Nicolaus reduced their target price on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $15.80.

Conagra Brands Trading Down 1.7%

The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $6.43 billion and a P/E ratio of -134.34. The business has a fifty day moving average price of $15.26 and a 200 day moving average price of $16.91.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. On average, analysts expect that Conagra Brands will post 1.7 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.4%. Conagra Brands’s dividend payout ratio (DPR) is -1,400.00%.

Insiders Place Their Bets

In other Conagra Brands news, Director Richard H. Lenny purchased 25,000 shares of the stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the purchase, the director owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Mulligan purchased 17,500 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the transaction, the director directly owned 20,728 shares in the company, valued at approximately $296,617.68. This represents a 542.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.57% of the company’s stock.

Institutional Trading of Conagra Brands

A number of hedge funds and other institutional investors have recently modified their holdings of CAG. NewEdge Advisors LLC grew its stake in Conagra Brands by 4.2% in the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock valued at $628,000 after purchasing an additional 954 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Conagra Brands during the 1st quarter worth approximately $225,000. Empowered Funds LLC boosted its holdings in shares of Conagra Brands by 5.9% in the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after buying an additional 2,038 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Conagra Brands by 40.7% in the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after buying an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Conagra Brands by 3.9% in the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock valued at $1,033,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.