Conagra Brands (NYSE:CAG) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Conagra Brands (NYSE:CAG) 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.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $14.00 target price on shares of Conagra Brands in a research note on Thursday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Conagra Brands from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, September 18th. UBS Group raised their price target on Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Trading Down 0.6%

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 firm has a market cap of $7.26 billion, a PE ratio of -3.82 and a beta of 0.02. The company’s 50-day moving average is $14.53 and its 200 day moving average is $15.25.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The firm had revenue of $2.60 billion during 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 business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. 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 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, November 5th. Conagra Brands’s dividend payout ratio is -17.59%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Latitude Advisors LLC acquired a new stake in Conagra Brands in the 3rd quarter worth approximately $26,000. Curry Webb Wealth Management LLC bought a new stake in Conagra Brands during the third quarter worth approximately $30,000. Rakuten Securities Inc. grew its holdings in Conagra Brands by 339.7% during the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock valued at $31,000 after purchasing an additional 1,756 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in Conagra Brands during the third quarter valued at approximately $32,000. Finally, Provenance Wealth Advisors LLC acquired a new position in Conagra Brands during the third quarter valued at approximately $34,000. 83.75% of the stock is owned by institutional investors.

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.