Conagra Brands, Inc. (NYSE:CAG) Sees Large Growth in Short Interest

Conagra Brands, Inc. (NYSE:CAG) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 15,950,000 shares, a growth of 9.9% from the December 15th total of 14,510,000 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 4,850,000 shares, the days-to-cover ratio is presently 3.3 days.

Conagra Brands Stock Performance

Conagra Brands stock traded up $0.04 during midday trading on Monday, reaching $25.83. 9,680,558 shares of the company traded hands, compared to its average volume of 4,525,496. Conagra Brands has a 12 month low of $25.35 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business has a 50 day moving average of $27.25 and a two-hundred day moving average of $29.25. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Hexagon Capital Partners LLC raised its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands in the 4th quarter worth about $28,000. Grove Bank & Trust increased its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the 3rd quarter worth $47,000. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the third quarter valued at $59,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent analyst reports. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company cut their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.56.

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.