Wall Street analysts forecast that Conagra Brands Inc (NYSE:CAG) will report $1.94 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conagra Brands’ earnings. The highest sales estimate is $1.96 billion and the lowest is $1.93 billion. Conagra Brands reported sales of $1.86 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The firm is scheduled to report its next earnings results before the market opens on Thursday, June 28th.
According to Zacks, analysts expect that Conagra Brands will report full year sales of $7.91 billion for the current year, with estimates ranging from $7.90 billion to $7.93 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.04 billion per share, with estimates ranging from $7.99 billion to $8.10 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Conagra Brands.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the business earned $0.48 EPS. The business’s revenue was up .7% on a year-over-year basis.
Conagra Brands traded up $0.25, hitting $38.20, during trading hours on Monday, MarketBeat.com reports. 1,778,500 shares of the company traded hands, compared to its average volume of 3,052,475. The company has a current ratio of 1.03, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Conagra Brands has a one year low of $32.16 and a one year high of $39.42. The stock has a market cap of $15.09 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.30.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Monday, April 30th were issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is currently 48.85%.
In related news, Director Stephen G. Butler sold 12,092 shares of Conagra Brands stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $37.18, for a total value of $449,580.56. Following the completion of the sale, the director now owns 127,755 shares of the company’s stock, valued at approximately $4,749,930.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert G. Wise sold 5,908 shares of Conagra Brands stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total value of $219,304.96. Following the completion of the sale, the senior vice president now directly owns 22,781 shares of the company’s stock, valued at approximately $845,630.72. The disclosure for this sale can be found here. In the last three months, insiders sold 24,046 shares of company stock valued at $885,695. 0.79% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coho Partners Ltd. purchased a new position in Conagra Brands during the 1st quarter valued at about $94,362,000. BlackRock Inc. grew its holdings in Conagra Brands by 7.1% during the 1st quarter. BlackRock Inc. now owns 29,385,070 shares of the company’s stock valued at $1,083,722,000 after buying an additional 1,935,790 shares in the last quarter. Brown Advisory Inc. purchased a new position in Conagra Brands during the 4th quarter valued at about $63,808,000. Bank of New York Mellon Corp grew its holdings in Conagra Brands by 19.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,376,444 shares of the company’s stock valued at $353,210,000 after buying an additional 1,528,107 shares in the last quarter. Finally, Darrell & King LLC purchased a new position in Conagra Brands during the 1st quarter valued at about $37,714,000. 76.72% of the stock is owned by institutional investors.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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