Conagra Brands Inc. [NYSE: CAG] stock went on a downward path that fall over -0.22% on Tuesday, amounting to a one-week price decrease of less than -1.59%. The company report on February 27, 2023 that CONAGRA BRANDS ANNOUNCES DETAILS OF FISCAL 2023 THIRD QUARTER EARNINGS RELEASE, WEBCAST AND CONFERENCE CALL.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
Conagra Brands, Inc. (NYSE: CAG) will host a webcast and conference call to review its fiscal 2023 third quarter results on Wednesday, April 5, 2023, at 9:30 a.m. ET. The company’s news release will be issued at approximately 7:30 a.m. ET.
The live audio webcast and presentation slides will be available on conagrabrands.com/investor-relations under Events & Presentations. The conference call may be accessed by dialing 1-877-883-0383 for participants in the U.S. and 1-412-902-6506 for all other participants and using passcode 2483233. Please dial in 10 to 15 minutes prior to the call start time. Following the company’s remarks, the conference call will include a question-and-answer session with the investment community.
Over the last 12 months, CAG stock rose by 4.16%. The one-year Conagra Brands Inc. stock forecast points to a potential upside of 12.61. The average equity rating for CAG stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $17.08 billion, with 479.40 million shares outstanding and 471.64 million shares in the current float. Compared to the average trading volume of 4.15M shares, CAG stock reached a trading volume of 6951225 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Conagra Brands Inc. [CAG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAG shares is $41.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAG stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Conagra Brands Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 20, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $33 to $34. The new note on the price target was released on December 06, 2022, representing the official price target for Conagra Brands Inc. stock. Previously, the target price had yet another raise from $35 to $41, while UBS kept a Buy rating on CAG stock.
The Average True Range (ATR) for Conagra Brands Inc. is set at 0.62, with the Price to Sales ratio for CAG stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 0.08. Price to Free Cash Flow for CAG in the course of the last twelve months was 81.62 with Quick ratio for the last quarter at 0.30.
CAG Stock Performance Analysis:
Conagra Brands Inc. [CAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.59. With this latest performance, CAG shares dropped by -1.70% in over the last four-week period, additionally plugging by 4.70% over the last 6 months – not to mention a rise of 4.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAG stock in for the last two-week period is set at 40.15, with the RSI for the last a single of trading hit 38.95, and the three-weeks RSI is set at 41.70 for Conagra Brands Inc. [CAG]. The present Moving Average for the last 50 days of trading for this stock 37.54, while it was recorded at 35.83 for the last single week of trading, and 35.36 for the last 200 days.
Insight into Conagra Brands Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Conagra Brands Inc. [CAG] shares currently have an operating margin of +14.80 and a Gross Margin at +24.48. Conagra Brands Inc.’s Net Margin is presently recorded at +7.70.
Return on Equity for this stock inclined to 10.24, with Return on Assets sitting at 3.98.
Conagra Brands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.90.
CAG Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Conagra Brands Inc. go to 8.30%.
Conagra Brands Inc. [CAG] Insider Position Details
There are presently around $14,257 million, or 84.10% of CAG stock, in the hands of institutional investors. The top three institutional holders of CAG stocks are: VANGUARD GROUP INC with ownership of 56,959,935, which is approximately 0.89% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 45,179,288 shares of the stock with an approximate value of $1.62 billion in CAG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $972.89 million in CAG stock with ownership of nearly -0.796% of the company’s market capitalization.
Positions in Conagra Brands Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 480 institutional holders increased their position in Conagra Brands Inc. [NYSE:CAG] by around 24,944,479 shares. Additionally, 321 investors decreased positions by around 24,329,607 shares, while 136 investors held positions by with 348,635,545 shares. The mentioned changes placed institutional holdings at 397,909,631 shares, according to the latest SEC report filing. CAG stock had 134 new institutional investments in for a total of 5,793,867 shares, while 58 institutional investors sold positions of 2,419,858 shares during the same period.