Conagra Brands, Inc. (NYSE:CAG) Expected to Announce Quarterly Sales of $3.00 Billion

Analysts expect Conagra Brands, Inc. (NYSE:CAG) to announce $3.00 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Conagra Brands’ earnings. The highest sales estimate is $3.05 billion and the lowest is $2.94 billion. Conagra Brands also reported sales of $3.00 billion during the same quarter last year. The company is scheduled to report its next quarterly earnings report on Thursday, January 6th.

According to Zacks, analysts expect that Conagra Brands will report full-year sales of $11.18 billion for the current fiscal year, with estimates ranging from $10.96 billion to $11.27 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.36 billion, with estimates ranging from $11.15 billion to $11.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Conagra Brands.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 6th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis.

A number of brokerages have recently commented on CAG. Citigroup cut their price objective on shares of Conagra Brands from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 14th. Jefferies Financial Group reissued a “buy” rating on shares of Conagra Brands in a research report on Monday, September 13th. Bank of America lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $44.00 to $36.00 in a research report on Wednesday, July 14th. Royal Bank of Canada reissued a “hold” rating and issued a $38.00 price objective on shares of Conagra Brands in a research report on Friday, October 8th. Finally, JPMorgan Chase & Co. lowered shares of Conagra Brands from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $38.00 in a research report on Friday, October 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.00.

In other Conagra Brands news, EVP Colleen Batcheler sold 33,803 shares of the company’s stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $34.20, for a total value of $1,156,062.60. Following the transaction, the executive vice president now directly owns 159,944 shares in the company, valued at $5,470,084.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Lenny acquired 10,000 shares of the firm’s stock in a transaction on Thursday, July 15th. The stock was bought at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the acquisition, the director now owns 128,261 shares of the company’s stock, valued at $4,378,830.54. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. grew its stake in shares of Conagra Brands by 128.2% in the third quarter. Crossmark Global Holdings Inc. now owns 74,641 shares of the company’s stock valued at $2,059,000 after acquiring an additional 41,926 shares in the last quarter. Home Federal Bank of Tennessee grew its stake in shares of Conagra Brands by 6.9% in the third quarter. Home Federal Bank of Tennessee now owns 10,680 shares of the company’s stock valued at $362,000 after acquiring an additional 685 shares in the last quarter. Greylin Investment Mangement Inc. acquired a new position in shares of Conagra Brands in the third quarter valued at about $838,000. Capital Investment Advisors LLC grew its stake in shares of Conagra Brands by 0.6% in the third quarter. Capital Investment Advisors LLC now owns 68,431 shares of the company’s stock valued at $2,318,000 after acquiring an additional 383 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Conagra Brands in the third quarter valued at about $128,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

CAG traded down $0.25 during trading on Wednesday, reaching $33.16. The company had a trading volume of 3,615,651 shares, compared to its average volume of 3,595,520. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.29. Conagra Brands has a 12 month low of $32.25 and a 12 month high of $39.09. The business’s fifty day moving average price is $33.45 and its 200 day moving average price is $35.59. The company has a market cap of $15.91 billion, a P/E ratio of 12.56, a PEG ratio of 1.91 and a beta of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 1st will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, October 29th. This represents a $1.25 dividend on an annualized basis and a yield of 3.77%. Conagra Brands’s payout ratio is 47.35%.

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 and Estimates for Conagra Brands (NYSE:CAG)

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