$2.37 Billion in Sales Expected for Conagra Brands Inc (CAG) This Quarter
Brokerages expect that Conagra Brands Inc (NYSE:CAG) will post $2.37 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Conagra Brands’ earnings, with the lowest sales estimate coming in at $2.18 billion and the highest estimate coming in at $2.44 billion. Conagra Brands posted sales of $2.17 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The firm is expected to issue its next earnings results on Thursday, December 20th.
On average, analysts expect that Conagra Brands will report full-year sales of $9.81 billion for the current year, with estimates ranging from $9.80 billion to $9.82 billion. For the next fiscal year, analysts anticipate that the company will post sales of $11.30 billion, with estimates ranging from $11.26 billion to $11.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Conagra Brands.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share.
Shares of Conagra Brands stock traded down $0.07 during trading on Friday, hitting $34.39. The company’s stock had a trading volume of 9,127,892 shares, compared to its average volume of 8,430,926. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.02 and a beta of 0.17. Conagra Brands has a 52 week low of $32.81 and a 52 week high of $39.43.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a yield of 2.47%. Conagra Brands’s dividend payout ratio is currently 40.28%.
In related news, insider Sean Connolly purchased 14,184 shares of Conagra Brands stock in a transaction dated Friday, October 12th. The stock was purchased at an average cost of $35.25 per share, for a total transaction of $499,986.00. Following the completion of the purchase, the insider now directly owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas K. Brown purchased 7,092 shares of Conagra Brands stock in a transaction dated Friday, October 12th. The stock was bought at an average price of $35.25 per share, with a total value of $249,993.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 24,112 shares of company stock valued at $849,948. 0.92% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in CAG. Fort L.P. bought a new stake in shares of Conagra Brands in the second quarter worth approximately $117,000. JNBA Financial Advisors boosted its holdings in shares of Conagra Brands by 761.4% in the third quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock worth $149,000 after buying an additional 3,883 shares during the last quarter. Bray Capital Advisors purchased a new position in shares of Conagra Brands in the third quarter worth approximately $170,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of Conagra Brands by 137.6% in the third quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after buying an additional 2,984 shares during the last quarter. Finally, Lucia Wealth Services LLC purchased a new position in shares of Conagra Brands in the second quarter worth approximately $184,000. Hedge funds and other institutional investors own 81.97% of the company’s stock.
Conagra Brands Company Profile
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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