FY2024 EPS Estimates for Conagra Brands, Inc. (NYSE:CAG) Raised by Zacks Research

Conagra Brands, Inc. (NYSE:CAG) – Equities researchers at Zacks Research increased their FY2024 EPS estimates for Conagra Brands in a research note issued on Thursday, April 18th. Zacks Research analyst V. Bagree now anticipates that the company will earn $2.62 per share for the year, up from their previous forecast of $2.60. The consensus estimate for Conagra Brands’ current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Conagra Brands’ Q4 2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.68 EPS, FY2025 earnings at $2.68 EPS, Q1 2026 earnings at $0.68 EPS, Q2 2026 earnings at $0.72 EPS, Q3 2026 earnings at $0.70 EPS and FY2026 earnings at $2.80 EPS.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Royal Bank of Canada decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Stifel Nicolaus raised their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Citigroup raised their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Barclays raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Performance

NYSE CAG opened at $30.63 on Friday. Conagra Brands has a 52-week low of $25.16 and a 52-week high of $38.73. The company has a 50-day simple moving average of $28.83 and a 200 day simple moving average of $28.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company has a market capitalization of $14.64 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.57%. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Hedge Funds Weigh In On Conagra Brands

A number of large investors have recently modified their holdings of CAG. Norges Bank bought a new position in shares of Conagra Brands in the fourth quarter valued at approximately $140,473,000. State Street Corp boosted its position in shares of Conagra Brands by 12.8% in the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after acquiring an additional 2,671,720 shares during the period. Invesco Ltd. boosted its position in shares of Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after acquiring an additional 2,619,372 shares during the period. American Century Companies Inc. boosted its position in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after acquiring an additional 1,737,380 shares during the period. Finally, AMF Tjanstepension AB bought a new position in shares of Conagra Brands in the first quarter valued at approximately $47,980,000. 83.75% of the stock is currently owned by institutional investors.

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.