Stock analysts at Evercore ISI initiated coverage on shares of Conagra Brands (NYSE:CAG) in a research report issued on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $36.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 21.83% from the stock’s previous close.
Several other research firms have also recently issued reports on CAG. Credit Suisse Group upped their price objective on Conagra Brands from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective for the company. SunTrust Banks initiated coverage on Conagra Brands in a research report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Goldman Sachs Group set a $32.00 price objective on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $37.00.
NYSE:CAG opened at $29.55 on Tuesday. The stock has a market cap of $14.52 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.89. Conagra Brands has a 1 year low of $20.22 and a 1 year high of $39.43. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 1.49.
In other news, Director Joie A. Gregor bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average cost of $29.99 per share, with a total value of $299,900.00. Following the transaction, the director now directly owns 145,440 shares in the company, valued at $4,361,745.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 6,717 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the sale, the director now directly owns 99,897 shares of the company’s stock, valued at $3,096,807. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Investors Research Corp acquired a new stake in Conagra Brands during the 1st quarter worth approximately $28,000. CSat Investment Advisory L.P. lifted its position in Conagra Brands by 101.4% during the 1st quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares during the period. Princeton Global Asset Management LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $26,000. Capital Investment Advisory Services LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $26,000. Finally, 1832 Asset Management L.P. acquired a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. 88.58% of the stock is owned by hedge funds and other institutional investors.
Conagra Brands Company Profile
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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