Conagra Brands (NYSE:CAG) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Conagra Brands (NYSE:CAG)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $15.25 and traded as low as $14.93. Conagra Brands shares last traded at $15.2050, with a volume of 12,034,443 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on CAG. Barclays reduced their price target on Conagra Brands from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Evercore set a $13.00 price objective on shares of Conagra Brands in a report on Tuesday, September 29th. Deutsche Bank raised their price objective on shares of Conagra Brands from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, September 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. Finally, UBS Group boosted their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Trading Down 1.9%

The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39. The company has a market cap of $6.95 billion, a PE ratio of -3.66 and a beta of 0.02. The company’s 50 day simple moving average is $14.50 and its two-hundred day simple moving average is $15.23.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.1750 per share. The ex-dividend date is Thursday, November 5th. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. Conagra Brands’s dividend payout ratio is -17.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAG. BlackRock Inc. purchased a new stake in Conagra Brands during the 2nd quarter worth approximately $1,071,275,000. Dimensional Fund Advisors LP lifted its holdings in Conagra Brands by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after buying an additional 1,701,624 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Conagra Brands in the 2nd quarter valued at approximately $47,815,000. Quantinno Capital Management LP boosted its position in Conagra Brands by 51.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,162,412 shares of the company’s stock valued at $33,993,000 after buying an additional 737,120 shares during the period. Finally, Wilsey Asset Management Inc. boosted its position in Conagra Brands by 5.5% in the 2nd quarter. Wilsey Asset Management Inc. now owns 2,371,086 shares of the company’s stock valued at $31,915,000 after buying an additional 122,713 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks. The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.