Conagra Brands (NYSE:CAG) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Conagra Brands (NYSE:CAG)’s stock price passed 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 trading hands.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $14.00 price objective on shares of Conagra Brands in a report on Thursday, October 1st. UBS Group lifted their price target 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. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 1st. Evercore set a $13.00 price objective on shares of Conagra Brands in a research note on Tuesday, September 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $14.07.

Conagra Brands Price Performance

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

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

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, November 5th. Conagra Brands’s dividend payout ratio (DPR) is presently -17.59%.

Institutional Trading of Conagra Brands

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Conagra Brands during the second quarter worth $1,071,275,000. Bank of New York Mellon Corp purchased a new stake in Conagra Brands in the 2nd quarter worth $47,815,000. Freestone Grove Partners LP acquired a new position in shares of Conagra Brands during the second quarter valued at approximately $30,316,000. Bank of America Corp DE purchased a new position in shares of Conagra Brands in the second quarter worth about $25,047,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Conagra Brands by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock valued at $303,771,000 after purchasing an additional 1,701,624 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

About Conagra Brands

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.