Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Conagra Brands (CAG) Stock Price
News coverage about Conagra Brands (NYSE:CAG) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Conagra Brands earned a news sentiment score of 0.18 on Accern’s scale. Accern also gave news headlines about the company an impact score of 46.6748153887747 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- ConAgra Brands, Inc. (CAG) Investment Decreased by Neuberger Berman Group LLC (famososartistas.com)
- Norges Bank Sold A Little More ConAgra Brands, Inc. (CAG) Stock (expressnewsline.com)
- Moloney Securities Asset Management LLC Decreases Stake in ConAgra Foods Inc. (CAG) (bulhufas.com)
- Regentatlantic Capital LLC Has $938000 Position in ConAgra Foods Inc. (CAG) (elcumanes.com)
- Investor Focus on Shares of ConAgra Foods Inc. (NYSE:CAG) – Jonesboro Recorder (jonesbororecorder.com)
Shares of Conagra Brands (NYSE CAG) traded down 0.96% during mid-day trading on Thursday, reaching $34.06. 3,274,129 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $34.54 and a 200 day moving average price of $38.30. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of 23.33 and a beta of 0.32. Conagra Brands has a 52 week low of $32.93 and a 52 week high of $41.68.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Conagra Brands had a return on equity of 14.95% and a net margin of 7.22%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.52 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. Equities research analysts predict that Conagra Brands will post $1.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. Conagra Brands’s dividend payout ratio (DPR) is 57.82%.
Conagra Brands declared that its board has approved a share repurchase program on Thursday, June 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have issued reports on the stock. UBS AG reaffirmed a “sell” rating and set a $33.00 target price (down previously from $35.00) on shares of Conagra Brands in a research note on Friday, June 30th. J P Morgan Chase & Co lowered their target price on shares of Conagra Brands from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 target price (down previously from $44.00) on shares of Conagra Brands in a research note on Monday, June 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 target price (down previously from $43.00) on shares of Conagra Brands in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Conagra Brands currently has an average rating of “Hold” and an average target price of $42.72.
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In other news, Director Stephen G. Butler sold 5,848 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.80, for a total value of $209,358.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the completion of the transaction, the director now owns 89,260 shares in the company, valued at $2,965,217.20. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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