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.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Jefferies Financial Group set a $44.00 price objective on shares of Conagra Brands and gave the company a “buy” rating in a research note on Friday, October 5th. Goldman Sachs Group restated a “buy” rating and set a $42.00 price objective on shares of Conagra Brands in a research note on Wednesday, October 24th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, August 29th. Finally, Credit Suisse Group assumed coverage on shares of Conagra Brands in a research note on Wednesday, October 31st. They set a “neutral” rating and a $40.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.70.

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.

Further Reading: Diversification Important in Investing

Get a free copy of the Zacks research report on Conagra Brands (CAG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.