Conagra Brands Inc [CAG] stock Initiated by Wells Fargo analyst, price target now $31

Conagra Brands Inc [NYSE: CAG] surged by $0.68 during the normal trading session on while it closed the day at $29.41. The company report on January 23, 2024 at 8:35 AM that GLOBAL SUPERSTAR DOLLY PARTON AND CONAGRA BRANDS ENTER EXCLUSIVE LICENSING PARTNERSHIP FOR RETAIL FOOD.

Partnership Expands Beyond Duncan Hines Sweet Treats to Breadth of New Food Categories.

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Following the continued success of her multiyear partnership with Duncan Hines, global icon and Rock & Roll Hall of Fame inductee, Dolly Parton has entered into an unprecedented, exclusive agreement with Duncan Hines’ parent company, Conagra Brands (NYSE: CAG), one of North America’s leading branded food companies, to develop a line of retail food items. The new line of Dolly Parton food products will include frozen, refrigerated, grocery and snack items inspired by down-home comfort cuisine.

Conagra Brands Inc stock has also gained 2.90% of its value over the past 7 days. However, CAG stock has inclined by 8.97% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.58% and gained 2.62% year-on date.

The market cap for CAG stock reached $14.06 billion, with 477.02 million shares outstanding and 475.68 million shares in the current float. Compared to the average trading volume of 4.48M shares, CAG reached a trading volume of 4263230 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $35.61 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 2.89. 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.

Wells Fargo have made an estimate for Conagra Brands Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 12, 2023.

The Average True Range (ATR) for Conagra Brands Inc is set at 0.59, with the Price to Sales ratio for CAG stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for CAG in the course of the last twelve months was 12.07 with Quick ratio for the last quarter at 0.31.

CAG stock trade performance evaluation

Conagra Brands Inc [CAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, CAG shares gained by 3.70% in over the last four-week period, additionally sinking by -11.58% over the last 6 months – not to mention a drop of -22.56% 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 56.49, with the RSI for the last a single of trading hit 59.83, and the three-weeks RSI is set at 55.02 for Conagra Brands Inc [CAG]. The present Moving Average for the last 50 days of trading for this stock 28.75, while it was recorded at 28.88 for the last single week of trading, and 31.33 for the last 200 days.

Conagra Brands Inc [CAG]: An insightful look at the core fundamentals

Conagra Brands Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.31 and a Current Ratio set at 0.91.

Earnings per share (EPS) analysis for Conagra Brands Inc [CAG] stock

With the latest financial reports released by the company, Conagra Brands Inc posted 0.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.64/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.80%. 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 0.98%.

Conagra Brands Inc [CAG]: Institutional Ownership

The top three institutional holders of CAG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CAG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CAG stock with ownership which is approximately 5.8325%.