Conagra Brands Inc (NYSE:CAG) finished Friday with a subtraction of -$0.02 to close at $27.42, a downside of -0.07 percent. An average of 3,913,240 shares of common stock have been traded in the last five days. There was a fall of -$1.44 in the past week, and it reached a new high 31 times over the past 12 months. The last 20 days have seen an average of 3,795,570 shares traded, while the 50-day average volume stands at 3,749,584.
CAG stock has decreased by -8.93% in the last month. The company shares reached their 1-month lowest point of $27.27 on 09/28/23. With the stock rallying to its 52-week high on 01/09/23, shares of the company touched a low of $27.27 and a high of $41.30 in 52 weeks. It has reached a new high 5 times so far this year and lost -29.15% or -$11.28 in price. In spite of this, the price is down -33.61% from the 52-week high.
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Insider Transactions
CAG stock investors should be aware that Conagra Brands Inc (CAG) stock had its last reported insider trading activity 59 days ago on Aug 02. In this transaction, the insider spent $2,497,513. EVP, Chief HR Officer, Brock Charisse, disposed of 7,036 shares at a price of $37.04 on Apr 14. The insider now owns more than $260,613 worth of shares. Prior to that, EVP & Co-COO McGough Thomas M went on to Sale 45,000 shares at $38.66 each on Apr 06. An amount of $1,739,610 was transacted.
Valuation Metrics
Conagra Brands Inc (CAG) has a trailing price-to-earnings (P/E) ratio of 19.26. The stock’s beta is 0.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.07, the price-to-book (PB) ratio at 1.50, and the price-to-cash flow ratio at 20.69.
The company has a payout ratio of 92.82%. The company’s most recent quarterly dividend payment was $0.35 a share, representing a up of 6.06% from $0.33 last year. Its latest increase dividend $0.02 reported on Thursday July 13 2023.
Financial Health
The quick ratio of Conagra Brands Inc for the three months ended May 30 was 0.26, and the current ratio was 0.76, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.83 and a total debt to equity ratio of 1.08 for the quarter ending May 30. Its gross profit as reported stood at $3.26 billion compared to revenue of $12.28 billion.
Earnings Surprise
For the three-month period that ended May 30, Conagra Brands Inc had $7.08 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $37.5 million in the quarter, while revenues of $341.7 million were shrunk -323.73%. The analyst consensus anticipated Conagra Brands Inc’s latest quarter earnings to come in at $0.59 per share, but it turned out to be $0.62, a 5.10% surprise. For the quarter, EBITDA amounted to $155.9 million. Shareholders own equity worth $477.06 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Conagra Brands Inc (CAG) price momentum. RSI 9-day as of the close on 29 September was 19.49%, suggesting the stock is oversold, with historical volatility in this time frame at 13.06%.
As of today, CAG’s price is $27.74 -4.99% or -$1.44 from its 5-day moving average. CAG is currently trading -8.23% lower than its 20-day SMA and -27.34% lower than its 100-day SMA. However, the stock’s current price level is -17.16% below the SMA50 and -28.72% below the SMA200.
The stochastic %K and %D were 8.20% and 10.87%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 7.28% and the average true range at 0.46, the RSI (14) stands at 23.21%. The stock has reached -0.78 on the 9-day MACD Oscillator while the 14-day reading was at -0.97.
Analyst Ratings
TD Cowen launched coverage on Conagra Brands Inc (NYSE: CAG) in its analyst report released on September 13, 2023. The firm assigned the stock a Market perform rating. The consensus rating for Conagra Brands Inc (CAG) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CAG, while 13 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.
What is CAG’s price target for the next 12 months?
Analysts predict a range of price targets between $30.00 and $39.00, with a median target of $36.00. Taking a look at these predictions, the average price target given by analysts for Conagra Brands Inc (CAG) stock is $35.20.
