Reviewing The Case For Conagra Brands Inc (CAG) Going Higher

Currently, there are 478.17M common shares owned by the public and among those 474.80M shares have been available to trade.

The company’s stock has a 5-day price change of 1.30% and -1.79% over the past three months. CAG shares are trading 3.21% year to date (YTD), with the 12-month market performance up to 7.29% higher. It has a 12-month low price of $26.62 and touched a high of $33.24 over the same period. CAG has an average intraday trading volume of 4.75 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 -4.42%, -4.96%, and -0.63% respectively.

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Institutional ownership of Conagra Brands Inc (NYSE: CAG) shares accounts for 88.13% of the company’s 478.17M shares outstanding.

It has a market capitalization of $14.12B and a beta (3y monthly) value of 0.31. The stock’s trailing 12-month PE ratio is 28.82, while the earnings-per-share (ttm) stands at $1.03. The company has a PEG of 19.08 and a Quick Ratio of 0.33 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 1.55% over the week and 1.67% over the month.

Earnings per share for the fiscal year are expected to decrease by -3.12%, and 3.89% over the next financial year. EPS should grow at an annualized rate of 1.51% over the next five years, compared to -13.83% over the past 5-year period.

Looking at the support for the CAG, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on August 12, 2024, with the firm’s price target at $36. Citigroup coverage for the Conagra Brands Inc (CAG) stock in a research note released on February 01, 2024 offered a Neutral rating with a price target of $30. TD Cowen on their part issued Market Perform rating on September 13, 2023.

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