Conagra Brands Inc (NYSE:CAG) Receives Consensus Rating of “Buy” from Analysts

Shares of Conagra Brands Inc (NYSE:CAG) have been assigned an average rating of “Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $34.42.

A number of equities analysts recently commented on the stock. Bank of America set a $35.00 price objective on shares of Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup reduced their price objective on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Morgan Stanley assumed coverage on shares of Conagra Brands in a research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price objective for the company. Evercore ISI assumed coverage on shares of Conagra Brands in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research note on Monday, July 8th.

In other news, Director Ruth Ann Marshall sold 3,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $28.45, for a total transaction of $85,350.00. Following the transaction, the director now directly owns 102,387 shares of the company’s stock, valued at $2,912,910.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Craig P. Omtvedt purchased 25,000 shares of Conagra Brands stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $26.73 per share, for a total transaction of $668,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 33,589 shares of company stock worth $929,334. Insiders own 0.92% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Cleararc Capital Inc. acquired a new position in shares of Conagra Brands in the 1st quarter valued at $225,000. Mn Services Vermogensbeheer B.V. increased its position in shares of Conagra Brands by 200.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 247,757 shares of the company’s stock valued at $6,571,000 after acquiring an additional 165,400 shares during the period. M Holdings Securities Inc. acquired a new position in shares of Conagra Brands in the 1st quarter valued at $721,000. First Republic Investment Management Inc. increased its position in shares of Conagra Brands by 0.9% in the 1st quarter. First Republic Investment Management Inc. now owns 55,374 shares of the company’s stock valued at $1,536,000 after acquiring an additional 496 shares during the period. Finally, Poplar Forest Capital LLC acquired a new position in shares of Conagra Brands in the 1st quarter valued at $18,010,000. 88.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE CAG traded up $0.45 during trading hours on Friday, reaching $28.65. The stock had a trading volume of 2,377,396 shares, compared to its average volume of 4,563,148. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The company has a fifty day moving average price of $28.20. Conagra Brands has a 52-week low of $20.22 and a 52-week high of $38.43.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, equities research analysts anticipate that Conagra Brands will post 2.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, July 29th. Conagra Brands’s payout ratio is presently 42.29%.

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.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Conagra Brands (NYSE:CAG)

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