Conagra Brands Inc (NYSE:CAG) Expected to Post Quarterly Sales of $2.82 Billion

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Analysts expect Conagra Brands Inc (NYSE:CAG) to post sales of $2.82 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Conagra Brands’ earnings, with the lowest sales estimate coming in at $2.77 billion and the highest estimate coming in at $2.87 billion. Conagra Brands posted sales of $2.38 billion during the same quarter last year, which suggests a positive year over year growth rate of 18.5%. The business is expected to report its next earnings report on Thursday, December 19th.

According to Zacks, analysts expect that Conagra Brands will report full year sales of $10.77 billion for the current year, with estimates ranging from $10.66 billion to $10.83 billion. For the next fiscal year, analysts forecast that the business will report sales of $10.75 billion, with estimates ranging from $10.62 billion to $10.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Conagra Brands.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 26th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the company posted $0.47 EPS. The business’s revenue was up 30.3% on a year-over-year basis.

CAG has been the topic of a number of research reports. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup raised their target price on shares of Conagra Brands from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Friday, September 6th. Credit Suisse Group reissued a “hold” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, September 19th. Finally, Barclays set a $33.00 target price on shares of Conagra Brands and gave the stock a “buy” rating in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Conagra Brands has a consensus rating of “Buy” and an average target price of $33.00.

CAG traded down $0.11 during trading on Wednesday, reaching $28.76. The company’s stock had a trading volume of 3,098,953 shares, compared to its average volume of 5,681,902. The company has a quick ratio of 0.40, a current ratio of 1.11 and a debt-to-equity ratio of 1.37. The firm has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $28.53. Conagra Brands has a 1 year low of $20.22 and a 1 year high of $32.80. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.95 and a beta of 0.85.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is presently 42.29%.

In other Conagra Brands news, EVP Colleen Batcheler sold 25,458 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.00, for a total value of $763,740.00. Following the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas M. Mcgough sold 26,099 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares in the company, valued at approximately $4,521,939. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CAG. Private Capital Group LLC grew its stake in shares of Conagra Brands by 16.2% during the second quarter. Private Capital Group LLC now owns 2,520 shares of the company’s stock worth $90,000 after purchasing an additional 351 shares in the last quarter. Securian Asset Management Inc grew its stake in shares of Conagra Brands by 0.7% during the second quarter. Securian Asset Management Inc now owns 50,008 shares of the company’s stock worth $1,326,000 after purchasing an additional 361 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Conagra Brands by 1.7% during the third quarter. Stephens Inc. AR now owns 23,188 shares of the company’s stock worth $711,000 after purchasing an additional 390 shares in the last quarter. Hartford Investment Management Co. grew its stake in shares of Conagra Brands by 0.3% during the second quarter. Hartford Investment Management Co. now owns 133,048 shares of the company’s stock worth $3,528,000 after purchasing an additional 401 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its stake in shares of Conagra Brands by 86.2% during the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock worth $25,000 after purchasing an additional 444 shares in the last quarter. 87.70% of the stock is currently owned by institutional investors.

About Conagra Brands

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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