Conagra Brands (NYSE:CAG) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Conagra Brands (NYSE:CAG) issued its quarterly earnings results on Thursday. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04, RTT News reports. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Conagra Brands updated its FY 2025 guidance to 2.600-2.650 EPS and its FY25 guidance to $2.60-2.65 EPS.

Conagra Brands Stock Down 1.5 %

CAG opened at $28.37 on Friday. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The firm’s fifty day moving average is $29.50 and its 200 day moving average is $29.21. Conagra Brands has a fifty-two week low of $25.16 and a fifty-two week high of $33.60.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio is currently 70.35%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAG. Stifel Nicolaus raised their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.38.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Conagra Brands in the fourth quarter worth $140,473,000. AMF Tjanstepension AB bought a new stake in shares of Conagra Brands in the 1st quarter worth about $47,980,000. Federated Hermes Inc. raised its position in shares of Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after buying an additional 1,330,249 shares in the last quarter. Junto Capital Management LP purchased a new position in Conagra Brands in the fourth quarter worth about $36,069,000. Finally, Assenagon Asset Management S.A. increased its stake in Conagra Brands by 368.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock worth $29,126,000 after acquiring an additional 799,175 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.