Conagra Brands Inc (NYSE:CAG) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 10,874,662 shares, a decline of 31.8% from the October 31st total of 15,942,010 shares. Based on an average daily trading volume, of 7,664,683 shares, the short-interest ratio is currently 1.4 days. Approximately 2.2% of the company’s stock are short sold.
CAG opened at $32.43 on Tuesday. The stock has a market capitalization of $12.67 billion, a PE ratio of 15.37, a P/E/G ratio of 1.88 and a beta of 0.14. Conagra Brands has a 1-year low of $31.86 and a 1-year high of $39.43. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. Conagra Brands’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities analysts expect that Conagra Brands will post 2.15 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Stephens assumed coverage on shares of Conagra Brands in a research note on Monday, August 20th. They set an “overweight” rating and a $45.00 price target on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Conagra Brands in a research note on Monday, November 12th. Credit Suisse Group set a $35.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, November 26th. ValuEngine downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Conagra Brands in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Conagra Brands has an average rating of “Buy” and an average price target of $42.20.
In other news, CFO David S. Marberger purchased 2,836 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The shares were purchased at an average price of $35.25 per share, with a total value of $99,969.00. Following the purchase, the chief financial officer now directly owns 12,721 shares of the company’s stock, valued at approximately $448,415.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas K. Brown purchased 7,092 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The shares were purchased at an average cost of $35.25 per share, for a total transaction of $249,993.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,112 shares of company stock worth $849,948 in the last ninety days. 0.92% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fort L.P. bought a new stake in shares of Conagra Brands during the 2nd quarter valued at about $117,000. JNBA Financial Advisors grew its position in shares of Conagra Brands by 761.4% during the 3rd quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock valued at $149,000 after buying an additional 3,883 shares during the last quarter. Vectors Research Management LLC bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $165,000. Bray Capital Advisors bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $170,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of Conagra Brands by 137.6% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock valued at $175,000 after buying an additional 2,984 shares during the last quarter. 87.18% of the stock is owned by institutional investors.
Conagra Brands Company Profile
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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