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

Conagra Brands (NYSE:CAG) released its earnings results on Thursday. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04, RTT News reports. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 14.09% and a net margin of 2.88%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. 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 Performance

Shares of Conagra Brands stock opened at $28.36 on Friday. The business’s fifty day simple moving average is $29.46 and its 200 day simple moving average is $29.21. The firm has a market capitalization of $13.56 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $33.60. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.94%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Insider Buying and Selling

In related news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Conagra Brands

A number of hedge funds have recently bought and sold shares of CAG. Ignite Planners LLC increased its position in Conagra Brands by 17.2% in the second quarter. Ignite Planners LLC now owns 16,580 shares of the company’s stock worth $468,000 after buying an additional 2,428 shares during the last quarter. Sound Income Strategies LLC increased its position in Conagra Brands by 8.4% in the second quarter. Sound Income Strategies LLC now owns 109,956 shares of the company’s stock worth $3,125,000 after buying an additional 8,481 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in Conagra Brands by 9.6% in the second quarter. Carolina Wealth Advisors LLC now owns 148,360 shares of the company’s stock worth $4,216,000 after buying an additional 13,055 shares during the last quarter. OLD National Bancorp IN increased its position in Conagra Brands by 3.1% in the second quarter. OLD National Bancorp IN now owns 264,850 shares of the company’s stock worth $7,527,000 after buying an additional 7,888 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Conagra Brands in the second quarter worth $4,732,000. 83.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CAG. Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday. Stifel Nicolaus cut their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Evercore ISI cut their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Citigroup cut their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.00.

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.