CAG Stock Summary and Trading Ideas (Conagra Brands | NYSE:CAG)

Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of revenue and profits). Most of its revenue comes from frozen food, including brands like Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Conagra also sells snacks, shelf-stable staples, and refrigerated food through brands like Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, and Chef Boyardee. The company primarily sells through the US retail channel, with just 8% of fiscal 2023 revenue coming from international markets and 9% from foodservice.

Conagra Brands trades on the NYSE stock market under the symbol CAG.

As of April 18, 2024, CAG stock price climbed to $30.36 with 3,109,331 million shares trading.

CAG has a beta of 0.46, meaning it tends to be less sensitive to market movements. CAG has a correlation of 0.08 to the broad based SPY ETF.

CAG has a market cap of $14.59 billion. This is considered a Large Cap stock.

Last quarter Conagra Brands reported $3 billion in Revenue and $.69 earnings per share. This beat revenue expectation by $23 million and exceeded earnings estimates by $.04.

In the last 3 years, CAG stock traded as high as $41.30 and as low as $25.16.

The top ETF exchange traded funds that CAG belongs to (by Net Assets): VTI, VOO, VO, DVY, SPY.

CAG stock has underperformed the market in the last year with a return of -14.8%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CAG shares. However, CAG has outperformed the market in the last 3 month and 2 week periods, returning +6.2% and +4.5%, while SPY returned +6.1% and -3.8%, respectively. This indicates CAG has been having a stronger performance recently.

CAG support price is $29.87 and resistance is $30.61 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CAG stock will trade within this expected range on the day.