Aries Wealth Management has announced that it has acquired 5,293 shares of Conagra stock (CAG:NYE) worth around $205,000 during the fourth quarter, according to the company’s recent disclosure to the Securities and Exchange Commission (SEC).
Hedge Funds & Institutional Investors:
Meanwhile, other hedge funds and institutional investors have also made changes to their positions in the company. Vanguard Group increased its position in Conagra Brands by 1.1% in Q3 2022, while Price T Rowe Associates, State Street Corp, Invesco Ltd., and LSV Asset Management all grew their positions in the company during various periods.
In other Conagra Brands news, SVP Robert G. Wise sold 50,000 shares of the Conagra stock in January 2022, with a total transaction value of $2,045,000.00. Following the sale, the senior vice president now owns 22,717 shares in the company valued at $929,125.30. Insiders currently own 0.98% of the stock.
Conagra Stock-Analyst Ratings:
Several research firms have issued reports on Conagra Brands, with Stifel Nicolaus lowering its price target from $44.00 to $40.00 and setting a “hold” rating for the company.
Meanwhile, Credit Suisse Group and JPMorgan Chase & Co. upped their target prices on the company to $40.00 and $43.00, respectively, with both giving the stock a “neutral” rating.
Deutsche Bank Aktiengesellschaft raised Conagra Brands from a “sell” rating to a “hold” rating and set a $35.00 target price for the company.
Conagra Stock Price Analysis:
Conagra Brands opened at $37.21 on the New York Stock Exchange on March 27, 2023. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.29, and a current ratio of 0.92.
The business’s 50-day simple moving average is $36.54, and its 200-day simple moving average is $36.34. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.25, and a beta of 0.55.
According to Stock Target Advisor, the stock currently has an average rating of “Buy” and a consensus target price of $40.50.
Quarterly Earnings Review:
Conagra Brands reported $0.81 EPS for the quarter ending January 5, 2022, surpassing the consensus estimate of $0.66 by $0.15. The company’s revenue was $3.31 billion for the quarter, up 8.3% from the previous year.
The company’s return on equity was 14.38%, and its net margin was 5.66%. The company is expected to post 2.66 earnings per share for the current fiscal year, as predicted by sell-side analysts.
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.
The company was formerly known as ConAgra Foods, Inc. and changed its name to Conagra Brands, Inc. in November 2016. Conagra Brands, Inc. was founded in 1919 and is headquartered in Chicago, Illinois.