Conagra Brands (NYSE:CAG) Issues Earnings Results

Conagra Brands (NYSE:CAG) announced its quarterly earnings results on Wednesday. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07), Briefing.com reports. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. Conagra Brands updated its FY25 guidance to $2.60-2.65 EPS.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $29.35 on Friday. The firm has a market capitalization of $14.03 billion, a P/E ratio of 40.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The business’s fifty day simple moving average is $31.29 and its 200 day simple moving average is $30.26. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $33.24.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.77%. Conagra Brands’s payout ratio is 191.78%.

Insider Buying and Selling

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAG. Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Citigroup lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $31.00.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.