Conagra Brands Inc [NYSE: CAG] loss 0.00% on the last trading session, reaching $27.70 price per share at the time. The company report on February 29, 2024 at 8:24 AM that Conagra Brands Enters Into a Definitive Agreement to Divest its 51.8% Ownership Stake in Agro Tech Foods Limited.
Today Conagra Brands, Inc. (NYSE: CAG) announced that one of its subsidiaries has entered into a definitive agreement with funds advised by Convergent Finance and Samara Capital to divest its 51.8% ownership stake in Agro Tech Foods Limited (ATFL), a food company based in Mumbai, India, and listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. The transaction is expected to be completed by the end of calendar year 2024. Upon the close of this agreement, Conagra Brands will no longer consolidate the results of ATFL in its financial statements.
If compared to the average trading volume of 4.86M shares, CAG reached a trading volume of 4337930 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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.
Citigroup have made an estimate for Conagra Brands Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on December 12, 2023, representing the official price target for Conagra Brands Inc stock.
The Average True Range (ATR) for Conagra Brands Inc is set at 0.55, with the Price to Sales ratio for CAG stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 1.47, 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 11.37 with Quick ratio for the last quarter at 0.31.
Trading performance analysis for CAG stock
Conagra Brands Inc [CAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.97. With this latest performance, CAG shares dropped by -5.97% in over the last four-week period, additionally sinking by -5.53% over the last 6 months – not to mention a drop of -22.71% 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 43.19, with the RSI for the last a single of trading hit 41.22, and the three-weeks RSI is set at 44.51 for Conagra Brands Inc [CAG]. The present Moving Average for the last 50 days of trading for this stock 28.53, while it was recorded at 27.88 for the last single week of trading, and 30.00 for the last 200 days.
Conagra Brands Inc [CAG]: A deeper dive into fundamental analysis
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.
Conagra Brands Inc [CAG]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Conagra Brands Inc [CAG]
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%.
