During the recent session, Conagra Brands, Inc. (NYSE:CAG)’s traded shares were 2,051,909, with the beta value of the company hitting 0.89. At the last check, the stock’s price was $36.64, reflecting an intraday loss of -1.61% or -$0.6. The 52-week high for the CAG share is $39.34, that puts it down -7.37% from that peak though still a striking +17.79% gain since the share price plummeted to a 52-week low of $30.12. The company’s market capitalization is $17.88 Billion, and the average intraday trading volume over the past 10 days was 3.45 Million shares, and the average trade volume was 4.03 Million shares over the past three months.
Conagra Brands, Inc. (CAG) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.4. CAG has a Sell rating from 1 analyst(s) out of 16 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 7 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.58.
Conagra Brands, Inc. (NYSE:CAG): Trading Information
Conagra Brands, Inc. (CAG) registered a -1.61% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.1% in intraday trading to $37.90 this Tuesday, Apr 06, hitting a weekly high. The stock’s 5-day price performance is -2.34%, and it has moved by 0.52% in 30 days. Based on these gigs, the overall price performance for the year is 1.27%. The short interest in Conagra Brands, Inc. (NYSE:CAG) is 12.22 Million shares and it means that shorts have 3.03 day(s) to cover.
The consensus price target of analysts on Wall Street is $37.93, which implies an increase of 3.52% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $33 and $44 respectively. As a result, CAG is trading at a discount of 20.09% off the target high and -9.93% off the low.
Conagra Brands, Inc. (CAG) projections and forecasts
Statistics show that Conagra Brands, Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Conagra Brands, Inc. (CAG) shares have gone up +0.38% during the last six months, with a year-to-date growth rate more than the industry average at 14.04% against 10.2%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 23.4% this quarter and then fall -32% in the quarter after that. In the rating firms’ projections, revenue will decline -0.4% compared to the previous financial year.
Revenue for the current quarter is expected to be $2.72 Billion as predicted by 13 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $2.61 Billion by the end of May 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.56 Billion and $3.29 Billion respectively. In this case, analysts expect current quarter sales to grow by 6.3% and then fell by -20.5% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 10.8%. While earnings are projected to return 12.6% in 2021, the next five years will return 6.6% per annum.
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CAG Dividend Yield
Conagra Brands, Inc. is due to release its next quarterly earnings on April 08, 2021. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Conagra Brands, Inc. is 1.1, with the dividend yield indicating at 2.95 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.58%.
Conagra Brands, Inc. (NYSE:CAG)’s Biggest Investors
Conagra Brands, Inc. insiders own 0.38% of total outstanding shares while institutional holders control 85.2%, with the float percentage being 85.52%. Capital World Investors is the largest shareholder of the company, while 1036 institutions own stock in it. As of Dec 30, 2020, the company held over 59.88 Million shares (or 12.26% of all shares), a total value of $2.17 Billion in shares.
The next largest institutional holding, with 55.34 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 11.33% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $2.01 Billion.
Also, the Mutual Funds coming in first place with the largest holdings of Conagra Brands, Inc. (CAG) shares are Washington Mutual Investors Fund and Fundamental Investors Inc. Data provided on Jan 30, 2021 indicates that Washington Mutual Investors Fund owns about 21,346,083 shares. This amounts to just over 4.37 percent of the company’s overall shares, with a $738.57 Million market value. The same data shows that the other fund manager holds slightly less at 18.08 Million, or about 3.7% of the stock, which is worth about $655.47 Million.