Conagra Brands Sees Unusually High Options Volume (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAG) saw unusually large options trading activity on Wednesday. Traders acquired 5,792 put options on the stock. This represents an increase of 44% compared to the average volume of 4,031 put options.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAG shares. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.20.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands in the 4th quarter valued at about $29,000. Grove Bank & Trust raised its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in Conagra Brands during the 4th quarter valued at $44,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.34 during mid-day trading on Wednesday, hitting $26.26. The stock had a trading volume of 2,849,982 shares, compared to its average volume of 5,946,234. The company’s 50 day simple moving average is $25.67 and its 200 day simple moving average is $27.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands has a twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.33%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.