Conagra Brands (NYSE:CAG) Shares Break Above 50 Day Moving Average – What’s Next?

Conagra Brands (NYSE:CAG) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $14.65 and traded as high as $14.82. Conagra Brands shares last traded at $14.7870, with a volume of 14,336,544 shares.

Analyst Ratings Changes

CAG has been the subject of a number of recent research reports. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $14.00 price objective on shares of Conagra Brands in a research note on Thursday, October 1st. JPMorgan Chase & Co. upped their target price on Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings restated a “sell (d)” rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. Finally, Evercore set a $13.00 price objective on shares of Conagra Brands in a research note on Tuesday, September 29th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Up 1.5%

The firm has a market cap of $7.06 billion, a price-to-earnings ratio of -3.72 and a beta of 0.02. The firm has a 50 day moving average of $14.65 and a 200 day moving average of $15.31. The company has a quick ratio of 0.39, a current ratio of 1.10 and a debt-to-equity ratio of 1.08.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, September 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, sell-side analysts predict that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be paid a dividend of $0.1750 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.70 annualized dividend and a yield of 4.7%. Conagra Brands’s dividend payout ratio is currently -17.59%.

Institutional Investors Weigh In On Conagra Brands

A number of large investors have recently bought and sold shares of CAG. Kestra Advisory Services LLC increased its stake in Conagra Brands by 4.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 141,721 shares of the company’s stock valued at $1,905,000 after buying an additional 5,868 shares during the last quarter. Telos Capital Management Inc. bought a new position in shares of Conagra Brands during the 3rd quarter worth approximately $145,000. Cowa LLC boosted its stake in shares of Conagra Brands by 12.4% in the 3rd quarter. Cowa LLC now owns 69,773 shares of the company’s stock worth $938,000 after buying an additional 7,670 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Conagra Brands by 51.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 159,310 shares of the company’s stock worth $2,367,000 after buying an additional 54,422 shares during the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Conagra Brands by 16.7% in the third quarter. Ascent Group LLC now owns 13,526 shares of the company’s stock valued at $182,000 after acquiring an additional 1,932 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company’s portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Hunt’s, Slim Jim, Orville Redenbacher’s, Chef Boyardee, Hebrew National, Vlasic and PAM.