Conagra Brands (NYSE:CAG) Reaches New 12-Month Low – Time to Sell?

Conagra Brands (NYSE:CAG) shares reached a new 52-week low during trading on Monday . The stock traded as low as $14.62 and last traded at $14.7150, with a volume of 1984999 shares traded. The stock had previously closed at $15.18.

Conagra Brands News Summary

Here are the key news stories impacting Conagra Brands this week:

• Positive Sentiment: Appointment of an experienced CPG operator — John Brase brings deep packaged‑foods operating experience and will join Conagra’s board, which could help with operations and long‑term strategy execution. Conagra Brands Appoints John Brase as President and Chief Executive Officer
• Neutral Sentiment: Formal timing and governance: the company set a June 1 start date for Brase and Connolly will leave the board at month‑end — a clear, announced timetable reduces some uncertainty even if strategic details are pending. Conagra Brands names John Brase as new CEO (Reuters)
• Negative Sentiment: Market reaction: investors sold immediately, sending CAG to a 52‑week low as the leadership change sparked concerns about near‑term execution and strategic direction. Conagra Stock Hits 52-Week Low – Here’s Why (Benzinga)
• Negative Sentiment: Analyst moves & dividend concerns: early coverage noted downgrades and investor worry about dividend sustainability and capital allocation under new leadership, adding downward pressure. Conagra Brands Plunges to 52-Week Low Following CEO Departure Announcement (Blockonomi)
• Negative Sentiment: Uncertainty flagged by market commentary — analysts and scanners highlighted execution risk, potential changes to margin and portfolio priorities; several outlets and data providers noted the sudden nature of the transition and flagged insider/hedge fund activity. Conagra Brands falls as investors digest incoming CEO announcement (QuiverQuant)

Analysts Set New Price Targets

Several research analysts have commented on the company. BTIG Research assumed coverage on Conagra Brands in a research report on Monday. They set a “neutral” rating on the stock. Royal Bank Of Canada cut their price target on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. JPMorgan Chase & Co. cut their price target on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Finally, Wells Fargo & Company reduced their target price on shares of Conagra Brands from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and a consensus price target of $16.07.

Conagra Brands Stock Performance

The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -142.79 and a beta of 0.04. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average price of $17.35 and a 200-day moving average price of $17.55.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.8%. Conagra Brands’s payout ratio is -1,400.00%.

Institutional Trading of Conagra Brands

A number of institutional investors have recently modified their holdings of CAG. Norges Bank purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $145,656,000. Two Sigma Investments LP boosted its stake in shares of Conagra Brands by 239.6% in the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after buying an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Conagra Brands by 245.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after buying an additional 5,495,503 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock valued at $135,318,000 after buying an additional 5,100,424 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Conagra Brands by 241.9% in the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock valued at $108,313,000 after buying an additional 4,185,486 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.