Conagra Brands (NYSE:CAG) Issues Earnings Results, Beats Expectations By $0.01 EPS

Conagra Brands (NYSE:CAG) issued its quarterly earnings results on Wednesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01, MarketWatch Earnings reports. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.53 billion. Conagra Brands had a return on equity of 15.33% and a net margin of 11.61%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share.

Shares of CAG opened at $34.22 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.29. The stock has a 50-day moving average of $33.43 and a 200-day moving average of $35.72. The company has a market cap of $16.44 billion, a PE ratio of 12.86, a P/E/G ratio of 1.91 and a beta of 0.88. Conagra Brands has a one year low of $32.25 and a one year high of $39.09.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, October 29th. This represents a $1.25 annualized dividend and a dividend yield of 3.65%. Conagra Brands’s dividend payout ratio is presently 47.35%.

In other Conagra Brands news, EVP Colleen Batcheler sold 6,210 shares of Conagra Brands stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $34.96, for a total transaction of $217,101.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Lenny purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were bought at an average price of $34.14 per share, with a total value of $341,400.00. Following the purchase, the director now directly owns 128,261 shares in the company, valued at approximately $4,378,830.54. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company’s stock.

A number of brokerages have weighed in on CAG. Morgan Stanley reduced their target price on Conagra Brands from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 14th. Credit Suisse Group upgraded Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price target for the company in a research note on Wednesday, September 29th. Citigroup dropped their price target on Conagra Brands from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 14th. Stifel Nicolaus cut Conagra Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $35.00 in a research note on Wednesday, July 14th. Finally, Bank of America lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $44.00 to $36.00 in a research report on Wednesday, July 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from, the company has a consensus rating of “Hold” and an average target price of $37.00.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Earnings History for Conagra Brands (NYSE:CAG)

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