Conagra Brands Inc [CAG] Stock trading around $29.62 per share: What’s Next?

Conagra Brands Inc [NYSE: CAG] stock went on a downward path that fall over -0.20% on Friday, amounting to a one-week price increase of more than 3.49%. The company report on January 25, 2024 at 8:30 AM that Future of Frozen Food 2024 Uncovers Hottest Frozen Food Trends Emerging for 2024.

Comprehensive sales, social media, and search data point to five key trends driving innovation and change across the U.S. frozen food department.

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Globally inspired flavors, evolving use of kitchen appliances, and a surge in breakfast foods are just some of the emerging trends identified in Future of Frozen Food 2024, the inaugural, comprehensive, data-driven report from Conagra Brands that examined how the $78 billion1 United States (U.S.) frozen food market may evolve in 2024.

Over the last 12 months, CAG stock dropped by -20.25%. The one-year Conagra Brands Inc stock forecast points to a potential upside of 16.82. The average equity rating for CAG stock is currently 2.89, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $14.16 billion, with 477.02 million shares outstanding and 432.80 million shares in the current float. Compared to the average trading volume of 4.44M shares, CAG stock reached a trading volume of 10471836 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 $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 0.56, with the Price to Sales ratio for CAG stock in the period of the last 12 months amounting to 1.16. The Price to Book ratio for the last quarter was 1.57, 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 12.16 with Quick ratio for the last quarter at 0.31.

CAG Stock Performance Analysis:

Conagra Brands Inc [CAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.49. With this latest performance, CAG shares gained by 3.75% in over the last four-week period, additionally sinking by -10.54% over the last 6 months – not to mention a drop of -20.25% 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 58.37, with the RSI for the last a single of trading hit 62.35, and the three-weeks RSI is set at 56.42 for Conagra Brands Inc [CAG]. The present Moving Average for the last 50 days of trading for this stock 28.86, while it was recorded at 29.37 for the last single week of trading, and 31.20 for the last 200 days.

Insight into Conagra Brands Inc 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.

CAG Stock EPS

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] Institutonal Ownership Details

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%.