Conagra Brands Inc. (CAG) Is Down -1.31% in 2020 With Lots of Room to Run

Conagra Brands Inc. (NYSE: CAG) is -1.31% lower on its value in year-to-date trading and has touched a low of $22.83 and a high of $35.59 in the current 52-week trading range. The CAG stock was last observed hovering at around $34.22 in the last trading session, with the day’s loss setting it -0.43% off its average median price target of $36.00 for the next 12 months. It is also 17.59% off the consensus price target high of $41.00 offered by 18 analysts, but current levels are -9.0% lower than the price target low of $31.00 for the same period.

Currently trading at $33.79, the stock is 0.09% and 0.39% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.77 million and changing -1.26% at the moment leaves the stock 10.22% off its SMA200. CAG registered 16.96% gain for a year compared to 6-month loss of -0.68%. The firm has a 50-day simple moving average (SMA 50) of $33.60 and a 200-day simple moving average (SMA200) of $31.64.

The stock witnessed a 2.55% gain in the last 1 month and extending the period to 3 months gives it a 29.56%, and is -1.49% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.21% over the week and 2.71% over the month.

Conagra Brands Inc. (CAG) has around 18000 employees, a market worth around $16.80B and $10.38B in sales. Current P/E ratio is 21.52 and Fwd P/E is 14.82. Profit margin for the company is 7.40%. Distance from 52-week low is 48.01% and -5.06% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).

Conagra Brands Inc. (CAG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Conagra Brands Inc. (CAG) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.40, where 10 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Conagra Brands Inc. is expected to release its quarterly report on 06/30/2020 and quarterly earnings per share for the current quarter are estimated at $0.64 with sales reaching $3.08B over the same period.The EPS is expected to grow by 10.90% this year, but quarterly earnings will post 13.90% year-over-year. Quarterly sales are estimated to grow 17.90% in year-over-year returns.

Conagra Brands Inc. (CAG) Top Institutional Holders

949 institutions hold shares in Conagra Brands Inc. (CAG), with 1.54M shares held by insiders accounting for 0.32% while institutional investors hold 88.31% of the company’s shares. The shares outstanding are 487.40M, and float is at 485.60M with Short Float at 2.23%. Institutions hold 88.03% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 58.61 million shares valued at $1.72 billion. The investor’s holdings represent 12.03% of the CAG Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 40.45 million shares valued at $1.19 billion to account for 8.30% of the shares outstanding. The other top investors are Capital World Investors which holds 38.06 million shares representing 7.81% and valued at over $1.12 billion, while Price (T.Rowe) Associates Inc holds 6.16% of the shares totaling 30.0 million with a market value of $880.09 million.

Conagra Brands Inc. (CAG) Insider Activity

A total of 40 insider transactions have happened at Conagra Brands Inc. (CAG) in the last six months, with sales accounting for 7 and purchases happening 33 times. The most recent transaction is an insider sale by McGough Thomas M, the company’s President, Operating Segments. SEC filings show that McGough Thomas M sold 80,615 shares of the company’s common stock on Jun 01 at a price of $35.00 per share for a total of $2.82 million. Following the sale, the insider now owns 0.15 million shares.

Conagra Brands Inc. disclosed in a document filed with the SEC on Apr 29 that JANA PARTNERS LLC (Director) sold a total of 5,619 shares of the company’s common stock. The trade occurred on Apr 29 and was made at $34.48 per share for $0.19 million. Following the transaction, the insider now directly holds 10.85 million shares of the CAG stock.

Still, SEC filings show that on Apr 28, JANA PARTNERS LLC (Director) disposed off 599,689 shares at an average price of $34.84 for $20.89 million. The insider now directly holds 10,858,822 shares of Conagra Brands Inc. (CAG).

Conagra Brands Inc. (CAG): Who are the competitors?

The company’s main competitors (and peers) include The Hain Celestial Group Inc. (HAIN) that is trading 52.36% up over the past 12 months. The J. M. Smucker Company (SJM) is -11.89% down on the 1-year trading charts. Short interest in the company’s stock has fallen -13.85% from the last report on Apr 29, 2020 to stand at a total of 12.33 million short shares sold with a short interest ratio of 3.51.