Wall Street analysts expect Conagra Brands Inc (NYSE:CAG) to post $2.66 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Conagra Brands’ earnings. The highest sales estimate is $2.67 billion and the lowest is $2.65 billion. Conagra Brands posted sales of $1.97 billion during the same quarter last year, which suggests a positive year over year growth rate of 35%. The company is expected to announce its next quarterly earnings results on Wednesday, June 26th.
According to Zacks, analysts expect that Conagra Brands will report full year sales of $9.58 billion for the current financial year, with estimates ranging from $9.58 billion to $9.60 billion. For the next financial year, analysts forecast that the firm will report sales of $10.88 billion, with estimates ranging from $10.71 billion to $10.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Conagra Brands.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company earned $0.61 earnings per share. Conagra Brands’s revenue was up 35.7% compared to the same quarter last year.
In related news, Director Joie A. Gregor bought 10,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the transaction, the director now directly owns 145,440 shares in the company, valued at approximately $4,361,745.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.92% of the company’s stock.
Large investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC purchased a new stake in shares of Conagra Brands in the fourth quarter worth $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter worth $26,000. 1832 Asset Management L.P. purchased a new stake in shares of Conagra Brands in the fourth quarter worth $28,000. Kaizen Advisory LLC raised its position in shares of Conagra Brands by 47.3% in the fourth quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock worth $29,000 after buying an additional 443 shares in the last quarter. Finally, Timber Creek Capital Management LLC raised its position in shares of Conagra Brands by 143.1% in the fourth quarter. Timber Creek Capital Management LLC now owns 1,580 shares of the company’s stock worth $33,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.
NYSE CAG traded up $0.40 on Friday, hitting $30.52. 3,615,752 shares of the stock traded hands, compared to its average volume of 8,170,527. Conagra Brands has a 12 month low of $20.22 and a 12 month high of $39.43. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 1.49.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.2125 per share. The ex-dividend date is Monday, April 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.79%. Conagra Brands’s dividend payout ratio is currently 40.28%.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a 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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