Conagra Brands Inc. (NYSE:CAG) has a beta value of 0.57 and has seen 4.44 million shares traded in the last trading session. The company, currently valued at $17.89B, closed the last trade at $37.26 per share which meant it lost -$0.17 on the day or -0.45% during that session. The CAG stock price is -10.84% off its 52-week high price of $41.30 and 19.32% above the 52-week low of $30.06. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.2 million shares traded. The 3-month trading volume is 3.85 million shares.
The consensus among analysts is that Conagra Brands Inc. (CAG) is an Overweight stock at the moment, with a recommendation rating of 2.70. 1 analysts rate the stock as a Sell, while 2 rate it as Overweight. 10 out of 18 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.64.
Conagra Brands Inc. (NYSE:CAG) trade information
Sporting -0.45% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the CAG stock price touched $37.26 or saw a rise of 6.8%. Year-to-date, Conagra Brands Inc. shares have moved -3.72%, while the 5-day performance has seen it change -6.92%. Over the past 30 days, the shares of Conagra Brands Inc. (NYSE:CAG) have changed -3.92%. Short interest in the company has seen 8.69 million shares shorted with days to cover at 2.3.
Wall Street analysts have a consensus price target for the stock at $41.75, which means that the shares’ value could jump 10.75% from current levels. The projected low price target is $35.00 while the price target rests at a high of $48.00. In that case, then, we find that the current price level is -28.82% off the targeted high while a plunge would see the stock lose 6.07% from current levels.
Conagra Brands Inc. (CAG) estimates and forecasts
Figures show that Conagra Brands Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 10.01% over the past 6 months, with this year growth rate of 11.86%, compared to 8.50% for the industry. Revenue growth from the last financial year stood is estimated to be 7.40%.
11 analysts offering their estimates for the company have set an average revenue estimate of $3.11 billion for the current quarter. 11 have an estimated revenue figure of $3.05 billion for the next quarter concluding in May 2023. Year-ago sales stood $2.91 billion and $2.91 billion respectively for this quarter and the next, and analysts expect sales will grow by 6.70% for the current quarter and 5.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 8.40% over the past 5 years. Earnings growth for 2023 is a modest -30.80% while over the next 5 years, the company’s earnings are expected to increase by 8.30%.
Conagra Brands Inc. is expected to release its next earnings report between April 05 and April 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.32 at a share yield of 3.54%. The company’s dividend yield has gone up over the past 12 months.
Conagra Brands Inc. (NYSE:CAG)’s Major holders
Insiders own 0.46% of the company shares, while shares held by institutions stand at 84.82% with a share float percentage of 85.22%. Investors are also buoyed by the number of investors in a company, with Conagra Brands Inc. having a total of 1,136 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 56.46 million shares worth more than $2.1 billion. As of Sep 29, 2022, Vanguard Group, Inc. (The) held 11.85% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 44.01 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $1.64 billion and represent 9.23% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Sep 29, 2022, the former fund manager holds about 3.00% shares in the company for having 14.3 million shares of worth $532.81 million while later fund manager owns 11.07 million shares of worth $412.42 million as of Sep 29, 2022, which makes it owner of about 2.32% of company’s outstanding stock.