The Vanguard Group, Inc. has recently announced that it has increased stake in Conagra Brands Inc. (NYSE:CAG) by 1.96%. After grabbing 53.83 million shares, the institutional investor is now in possession of 1.03 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 11.23% having worth around $1.98 billion. Moreover, BlackRock Fund Advisors increased its share by 0.63 million to have a control over 31.73 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 2.97 million shares by acquiring 27.92 million shares or 5.83% of the stake.
Conagra Brands Inc. (CAG) concluded trading on 11/16/22 at a closing price of $35.04, with 4.18 million shares of worth about $146.43 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.38% during that period and on Wednesday the price saw a gain of about 1.92%. Currently the company’s common shares owned by public are about 480.60M shares, out of which, 477.04M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the CAG stock and their offered price forecasts bring an average price target of $36.88. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $42.00 and could fall to a lowest price of $33.00. The stock’s current price level is 4.08% above of average price target set by the analysts, while a rise to estimated low would result in loss of -6.18% for the stock. However, touching the estimated high of $42.00 would mean a gain of 16.57% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 444,061 shares in 36 of the transactions. In 16 selling transactions, insiders dumped 285,172 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Conagra Brands Inc. Vanguard Total Stock Market Index is currently holding 14.34 million shares of worth totaling $526.19 million. The company recently came buying 0.11 million shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 56227.0 shares, after which its hold over company’s outstanding shares expand to 2.31%, leaving 11.09 million shares with the mutual fund that have a worth of about $406.86 million. Vanguard 500 Index Fund, after buying 10.87 million shares, have now control over 2.27% of the stake in the company. It holds 51015.0 shares of worth $399.11 million.
Conagra Brands Inc. (NYSE: CAG) started trading at $34.53, above $0.15 from concluding price of the previous day. However, the stock later moved at a day high price of 35.14, or with a gain of 1.92%. Stock saw a price change of -1.38% in past 5 days and over the past one month there was a price change of 0.31%. Year-to-date (YTD), CAG shares are showing a performance of 2.61% which increased to 9.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.06 but also hit the highest price of $36.97 during that period. The average intraday trading volume for Conagra Brands Inc. shares is 3.40 million. The stock is currently trading -0.99% below its 20-day simple moving average (SMA20), while that difference is up 1.66% for SMA50 and it goes to 2.45% higher than SMA200.
The Vanguard Group, Inc. acquired 53.83 million shares of Conagra Brands Inc. having value of about $1.98 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.03 million shares in the company valued at close to $36176101.92, or have control over 1.96% stake in the company. Conagra Brands Inc. (NYSE: CAG) currently have 480.60M outstanding shares and institutions hold larger chunk of about 86.10% of that. Holding of mutual funds in the company is about 49.02% while other institutional holders and individual stake holders have control over 5.38% and 36.78% of the stake respectively.
The stock has a current market capitalization of $17.10B and its 3Y-monthly beta is at 0.58. PE ratio of stock for trailing 12 months is 29.37, while it has posted earnings per share of $1.19 in the same period. Its PEG reads 4.74 and has Quick Ratio of 0.20 while making debt-to-equity ratio of 1.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CAG, volatility over the week remained 3.51% while standing at 2.22% over the month.
Analysts are in expectations that Conagra Brands Inc. (CAG) stock would likely to be making an EPS of $0.65 in the current quarter, while forecast for next quarter EPS is $0.59 and it is $2.6 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.62 which is $0.68 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.64 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -30.80% while it is estimated to increase by 6.51% in next year. EPS is likely to shrink at an annualized rate of 6.20% for next 5-years, compared to annual growth of 8.40% made by the stock over the past 5-years.
Analysts at 18 brokerage firms have issued recommendations for the Conagra Brands Inc. (CAG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.80. Out of those 18 Wall Street analysts, 3 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on November 15, 2022 offering an Outperform rating for the stock and assigned a target price of $42 to it. Coverage by UBS stated Conagra Brands Inc. (CAG) stock as a Neutral in their note to investors on March 30, 2022, suggesting a price target of $34 for the stock. On March 08, 2022, Consumer Edge Research Downgrade their recommendations, while on October 08, 2021, JP Morgan Downgrade their ratings for the stock with a price target of $38. Stock get a Neutral rating from Credit Suisse on September 29, 2021.