Now Is A Suitable Moment For A Long-Term Purchase Of Conagra Brands Inc (NYSE: CAG)

Currently, there are 477.02M common shares owned by the public and among those 475.68M shares have been available to trade.

However, the script later moved the day high at 28.59, up 0.13%. The company’s stock has a 5-day price change of 2.38% and 3.89% over the past three months. CAG shares are trading 3.56% year to date (YTD), with the 12-month market performance down to -20.98% lower. It has a 12-month low price of $25.16 and touched a high of $38.94 over the same period. CAG has an average intraday trading volume of 4.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.26%, 4.26%, and 0.71% respectively.

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Institutional ownership of Conagra Brands Inc (NYSE: CAG) shares accounts for 85.91% of the company’s 477.02M shares outstanding.

It has a market capitalization of $14.19B and a beta (3y monthly) value of 0.40. The stock’s trailing 12-month PE ratio is 14.45, while the earnings-per-share (ttm) stands at $2.05. The company has a PEG of 34.66 and a Quick Ratio of 0.31 with the debt-to-equity ratio at 1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.28% over the week and 1.54% over the month.

Earnings per share for the fiscal year are expected to decrease by -5.99%, and 3.45% over the next financial year. EPS should grow at an annualized rate of 0.42% over the next five years, compared to -6.45% over the past 5-year period.

Looking at the support for the CAG, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on February 01, 2024, with the firm’s price target at $30. Wells Fargo coverage for the Conagra Brands Inc (CAG) stock in a research note released on December 12, 2023 offered a Equal Weight rating with a price target of $31. Evercore ISI was of a view on December 11, 2023 that the stock is In-line, while TD Cowen gave the stock Market Perform rating on September 13, 2023, issuing a price target of $32. Morgan Stanley on their part issued Equal-Weight rating on July 17, 2023.

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