$2.89 Billion in Sales Expected for Conagra Brands, Inc. (NYSE:CAG) This Quarter

Equities research analysts expect that Conagra Brands, Inc. (NYSE:CAG – Get Rating) will announce sales of $2.89 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Conagra Brands’ earnings, with estimates ranging from $2.84 billion to $2.95 billion. Conagra Brands reported sales of $2.74 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Conagra Brands will report full-year sales of $11.43 billion for the current fiscal year, with estimates ranging from $11.35 billion to $11.49 billion. For the next year, analysts forecast that the firm will report sales of $11.65 billion, with estimates ranging from $11.31 billion to $11.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Conagra Brands.

Conagra Brands (NYSE:CAG – Get Rating) last released its quarterly earnings results on Thursday, April 7th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 12.46% and a net margin of 9.14%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS.

CAG has been the topic of a number of research reports. Evercore ISI initiated coverage on Conagra Brands in a report on Friday. They issued a “buy” rating and a $40.00 price target on the stock. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a report on Wednesday, March 30th. Morgan Stanley increased their target price on Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 7th. UBS Group initiated coverage on Conagra Brands in a report on Wednesday, March 30th. They set a “neutral” rating and a $34.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $36.00 to $35.00 in a report on Friday, January 7th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.46.

In related news, COO Thomas M. Mcgough sold 40,802 shares of the stock in a transaction on Thursday, January 20th. The stock was sold at an average price of $35.96, for a total value of $1,467,239.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Darren Serrao sold 11,700 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $34.49, for a total value of $403,533.00. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors raised its position in Conagra Brands by 0.7% in the third quarter. Capital World Investors now owns 58,818,227 shares of the company’s stock valued at $1,992,234,000 after purchasing an additional 430,785 shares during the period. BlackRock Inc. raised its position in Conagra Brands by 3.5% in the third quarter. BlackRock Inc. now owns 38,774,314 shares of the company’s stock valued at $1,313,285,000 after purchasing an additional 1,312,140 shares during the period. Macquarie Group Ltd. raised its position in Conagra Brands by 8.7% in the third quarter. Macquarie Group Ltd. now owns 20,174,192 shares of the company’s stock valued at $683,288,000 after purchasing an additional 1,620,827 shares during the period. American Century Companies Inc. raised its position in Conagra Brands by 11.5% in the fourth quarter. American Century Companies Inc. now owns 14,420,111 shares of the company’s stock valued at $492,447,000 after purchasing an additional 1,489,272 shares during the period. Finally, LSV Asset Management raised its position in Conagra Brands by 1.5% in the fourth quarter. LSV Asset Management now owns 9,595,760 shares of the company’s stock valued at $327,695,000 after purchasing an additional 145,100 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Shares of CAG traded up $0.07 on Friday, reaching $34.50. The stock had a trading volume of 7,036,725 shares, compared to its average volume of 6,031,003. The firm has a market capitalization of $16.55 billion, a PE ratio of 16.05, a PEG ratio of 2.10 and a beta of 0.77. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $33.84 and a 200 day moving average of $33.46. Conagra Brands has a twelve month low of $30.06 and a twelve month high of $39.09.

About Conagra Brands (Get Rating)

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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