Why should you keep an eye on Conagra Brands Inc. (CAG)?

Conagra Brands Inc. (NYSE: CAG) is -4.91% lower on its value in year-to-date trading and has touched a low of $22.83 and a high of $39.34 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CAG stock was last observed hovering at around $34.10 in the last trading session, with the day’s gains setting it 0.38% off its average median price target of $38.50 for the next 12 months. It is also 21.64% off the consensus price target high of $44.00 offered by 17 analysts, but current levels are -4.48% lower than the price target low of $33.00 for the same period.

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Currently trading at $34.48, the stock is -0.51% and -1.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.38 million and changing 1.11% at the moment leaves the stock -3.06% off its SMA200. CAG registered 16.53% gain for a year compared to 6-month loss of -9.19%. The firm has a 50-day simple moving average (SMA 50) of $34.46 and a 200-day simple moving average (SMA200) of $35.93.

The stock witnessed a 1.23% gain in the last 1 month and extending the period to 3 months gives it a -2.82%, and is -0.20% 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 2.38% over the week and 2.37% over the month.

Conagra Brands Inc. (CAG) has around 16500 employees, a market worth around $17.14B and $11.52B in sales. Current P/E ratio is 15.17 and Fwd P/E is 13.36. Profit margin for the company is 9.70%. Distance from 52-week low is 51.03% and -12.35% from its 52-week high. The company has generated returns on investments over the last 12 months (7.20%).

Conagra Brands Inc. (CAG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Conagra Brands Inc. (CAG) is a “Overweight”. 17 analysts offering their recommendations for the stock have an average rating of 2.40, where 9 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Conagra Brands Inc. is expected to release its quarterly report on 03/25/2021 and quarterly earnings per share for the current quarter are estimated at $0.58 with sales reaching $2.71B over the same period.The EPS is expected to grow by 12.60% this year, but quarterly earnings will post -0.30% year-over-year. Quarterly sales are estimated to grow 6.10% in year-over-year returns.

Conagra Brands Inc. (CAG) Top Institutional Holders

993 institutions hold shares in Conagra Brands Inc. (CAG), with 2.01M shares held by insiders accounting for 0.41% while institutional investors hold 85.10% of the company’s shares. The shares outstanding are 489.10M, and float is at 486.71M with Short Float at 2.56%. Institutions hold 84.75% of the Float.

The top institutional shareholder in the company is Capital World Investors with over 59.88 million shares valued at $2.17 billion. The investor’s holdings represent 12.26% of the CAG Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 55.34 million shares valued at $2.01 billion to account for 11.33% of the shares outstanding. The other top investors are Blackrock Inc. which holds 33.6 million shares representing 6.88% and valued at over $1.22 billion, while Price (T.Rowe) Associates Inc holds 4.75% of the shares totaling 23.22 million with a market value of $842.11 million.

Conagra Brands Inc. (CAG) Insider Activity

A total of 9 insider transactions have happened at Conagra Brands Inc. (CAG) in the last six months, with sales accounting for 2 and purchases happening 7 times. The most recent transaction is an insider purchase by LENNY RICHARD H, the company’s Director. SEC filings show that LENNY RICHARD H bought 10,000 shares of the company’s common stock on Jan 08 at a price of $33.70 per share for a total of $0.34 million. Following the purchase, the insider now owns 0.11 million shares.

Conagra Brands Inc. disclosed in a document filed with the SEC on Jan 04 that GREGOR JOIE A (Director) sold a total of 8,900 shares of the company’s common stock. The trade occurred on Jan 04 and was made at $36.31 per share for $0.32 million. Following the transaction, the insider now directly holds 54318.0 shares of the CAG stock.

Still, SEC filings show that on Jul 31, Biegger David (EVP,Chief Supply Chain Officer) disposed off 33,634 shares at an average price of $37.66 for $1.27 million. The insider now directly holds 66,697 shares of Conagra Brands Inc. (CAG).

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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 61.26% up over the past 12 months. The J. M. Smucker Company (SJM) is 3.07% up on the 1-year trading charts. Short interest in the company’s stock has risen 27.08% from the last report on Dec 30, 2020 to stand at a total of 9.1 million short shares sold with a short interest ratio of 2.72.

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