Somewhat Positive Press Coverage Somewhat Unlikely to Impact Conagra Brands (CAG) Stock Price
News coverage about Conagra Brands (NYSE:CAG) has been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Conagra Brands earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned media stories about the company an impact score of 45.3283146765308 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Zacks: Analysts Anticipate Conagra Brands Inc (CAG) to Announce $0.55 EPS (americanbankingnews.com)
- Conagra Brands (CAG) Set to Announce Earnings on Thursday (americanbankingnews.com)
- These Consumer Stocks Caught Some Attention Last Week (finance.yahoo.com)
- Analyzing Conagra Brands (CAG) and Hershey (HSY) (americanbankingnews.com)
- Smucker is considering a sale of its baking brands for $700M (fooddive.com)
CAG has been the subject of several analyst reports. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, November 22nd. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and increased their price target for the company from $33.00 to $37.00 in a research report on Tuesday, December 12th. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Stifel Nicolaus increased their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Finally, Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the company a “hold” rating in a research report on Monday, December 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.50.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $0.49 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts expect that Conagra Brands will post 1.96 earnings per share for the current fiscal year.
In related news, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $37.87, for a total transaction of $877,447.90. Following the completion of the transaction, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,670 shares of company stock valued at $1,276,868. Corporate insiders own 0.79% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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