Evercore analysts believe food stocks are undervalued and recommend buying. Portfolio managers may increase stakes if economic signals are negative. Volumes are expected to remain solid and possibly grow, according to Lamar Villere. Evercore's David Palmer sets a $32 target on Conagra stock, a 14% upside from current $28, despite a Hold rating.
Conagra Brands' rising ROCE indicates increased proficiency in generating returns, reflected in a 59% shareholder return over five years. Further research is needed to determine if these trends will continue.
Analysts speculate if other food companies will report a negative price mix like Conagra. Firms maintaining pandemic pricing may need to reconsider, especially those with easily substitutable products.
Conagra's struggling share prices may continue to be suppressed by waning price momentum and low sales volume, as an impending period of deflation in the U.S. food industry could lead customers to delay purchases.
Investors' concerns over Conagra Brands' inferior earnings outlook keep its P/E lower than the market. It can deter shares from increasing unless conditions improve.
Conagra Brands' similar ROE to industry average and use of debt to boost returns don't make it appealing due to low ROE and significant debt use. Usually, high quality businesses manage to reach high ROEs without massive debt.
The analysis in the article suggests that Conagra Brands' diminished returns despite reinvestments in the business might not make it a potential multi-bagger stock. The company's declining stock and falling returns might not incite optimism among investors.
Stifel's Matthew Smith questions Conagra's ambitious expectation for volume improvement in H2 2024 given current consumer climate. BoA's Peter Galbo and Mizuho's John Baumgartner highlight price-sensitive demand fluctuations among lower-income consumers, indicating potential challenges in the frozen food sector's recovery.
康尼格拉股票讨论区
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新增数据:2022及2023年报。
5年来营收持续增长,平均增速为9.1%,其中2023年增长6.4%,营业利润分别受毛利率下滑及销售管理费用增加影响在2022和2023年分别下滑24.2%和20.1%,净利润则在近两年分别下滑31.7%和23.1%。
目前市盈率23.5,无论按成长股还是周期股来看估值都过高,应该立即平仓退出。
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