ConAgra Brands, Inc. (CAG) Monthly Financial Report
Publication Date: September 22, 2024
Company Overview
ConAgra Brands, Inc. (CAG) is a leading player in the consumer packaged goods sector, headquartered in Chicago, Illinois. Established in 1919, the company has been a staple in the Packaged Foods industry, delivering a diverse range of temperature-controlled and shelf-stable food products under renowned brands such as Birds Eye, Marie Callender’s, Duncan Hines, and Healthy Choice. With a notable presence in the food market, ConAgra has been publicly traded since 1983 and boasts impressive total revenues of approximately $12.05 billion, highlighting its capacity to retain consumers in a competitive environment.
Stock Performance Analysis
As of September 22, 2024, CAG stock is priced at $32.30, sitting below the analysts’ target high price of $36.00, indicating a potential upside for investors looking for long-term gains. The average recommendation rating for the stock stands at 2.8, reflecting a consensus among 15 analysts who suggest a cautious “hold” strategy. With a relatively low short interest of approximately 3.63% (15,226,700 shares short from 479,049,984 outstanding shares), investor confidence exhibits resilience, despite some bearish sentiment.
The stock has shown a robust performance over the past year, hovering closer to its 52-week high of $33.24 than its low of $25.16. Moreover, the current pricing exceeds the 50-day moving average of $30.81, indicating a bullish trend, while the target pricing analysis suggests a moderate range of performance expectations, with a potential low of $27.00 and mean of $30.70.
Conclusion and Investment Recommendation
In summary, ConAgra Brands, Inc. presents a stable opportunity in the packaged foods sector, supported by strong revenue figures and favorable stock performance metrics. Investors are advised to adopt a “hold” position, awaiting further developments that could enhance understanding of the firm’s operational efficiency and future profitability. The moderate outlook based on forecasted target prices suggests a carefully optimistic environment for potential growth, with careful monitoring necessary for more informed decision-making.
| Metric | Value |
|---|---|
| Market Cap | $15.5b |
| Total Debt | $8.7b |
| Total Cash | $77.7m |
| Shares Outstanding | 479.0m |
| Float Shares | 475.3m |
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