27-Mar-2024
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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 U.S. 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 March 27, 2024, CAG stock price climbed to $29.49 with 3,641,047 million shares trading.
CAG has a beta of 0.44, 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 $14.17 billion. This is considered a Large Cap stock.
Last quarter Conagra Brands reported $3 billion in Revenue and $.71 earnings per share. This fell short of revenue expectation by $-28 million and exceeded earnings estimates by $.03.
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 has underperformed the market in the last year with a return of -17.0%, while the SPY ETF gained +33.9%. In the last 3 month period, CAG fell short of the market, returning +4.5%, while SPY returned +10.3%. However, in the most recent 2 weeks CAG has outperformed the stock market by returning +3.7%, while SPY returned +1.5%.
CAG support price is $28.62 and resistance is $29.21 (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.