Conagra Brands (NYSE:CAG – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05, Briefing.com reports. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Conagra Brands updated its FY24 guidance to $2.60-2.65 EPS and its FY 2024 guidance to 2.600-2.650 EPS.
Conagra Brands Price Performance
Shares of NYSE:CAG traded up $0.45 during trading on Friday, reaching $31.09. 10,127,616 shares of the company’s stock traded hands, compared to its average volume of 4,888,247. The firm has a market cap of $14.86 billion, a PE ratio of 15.62, a P/E/G ratio of 3.26 and a beta of 0.42. Conagra Brands has a fifty-two week low of $25.16 and a fifty-two week high of $38.78. The company has a 50-day simple moving average of $28.52 and a 200-day simple moving average of $28.35. The company has a quick ratio of 0.31, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CAG. Vivaldi Capital Management LP purchased a new position in Conagra Brands in the 4th quarter worth approximately $201,000. Point72 Europe London LLP purchased a new position in Conagra Brands in the 4th quarter worth approximately $172,000. Covestor Ltd lifted its stake in Conagra Brands by 154.6% in the 1st quarter. Covestor Ltd now owns 3,821 shares of the company’s stock worth $128,000 after purchasing an additional 2,320 shares in the last quarter. KB Financial Partners LLC purchased a new position in Conagra Brands in the 1st quarter worth approximately $125,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $115,000. 83.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
View Our Latest Stock Report on CAG
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.
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