Conagra Brands (CAG) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Conagra Brands (NYSE:CAG) from a sell rating to a hold rating in a research report released on Monday morning.

Other analysts have also issued research reports about the company. Stephens began coverage on Conagra Brands in a report on Monday, August 20th. They set an overweight rating and a $45.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Conagra Brands from $43.00 to $45.00 and gave the company an overweight rating in a report on Friday, July 27th. Zacks Investment Research upgraded Conagra Brands from a sell rating to a hold rating in a report on Wednesday, October 3rd. Citigroup decreased their price target on Conagra Brands from $43.00 to $42.00 and set a buy rating on the stock in a report on Thursday, June 28th. Finally, UBS Group upgraded Conagra Brands from a neutral rating to a buy rating and increased their price target for the company from $38.00 to $40.00 in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Conagra Brands presently has an average rating of Buy and an average target price of $42.78.

Shares of CAG opened at $34.65 on Monday. The company has a market cap of $13.30 billion, a PE ratio of 16.42, a PEG ratio of 1.92 and a beta of 0.31. Conagra Brands has a 1 year low of $32.81 and a 1 year high of $39.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.39 and a current ratio of 0.84.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. As a group, equities analysts forecast that Conagra Brands will post 2.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be given a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, October 16th. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.

In other Conagra Brands news, EVP Colleen Batcheler sold 22,750 shares of the company’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $36.00, for a total value of $819,000.00. Following the transaction, the executive vice president now owns 163,145 shares of the company’s stock, valued at approximately $5,873,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CAG. Fort L.P. bought a new position in Conagra Brands in the 2nd quarter valued at $117,000. Lucia Wealth Services LLC bought a new position in Conagra Brands in the 2nd quarter valued at $184,000. Lincoln National Corp bought a new position in Conagra Brands in the 2nd quarter valued at $200,000. Zacks Investment Management bought a new position in Conagra Brands in the 2nd quarter valued at $203,000. Finally, Chemical Bank bought a new position in Conagra Brands in the 2nd quarter valued at $214,000. 81.48% of the stock is currently owned by institutional investors.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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