Conagra Brands, Inc. (NYSE:CAG) Receives $36.44 Average PT from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.44.

A number of equities research analysts have weighed in on CAG shares. Bank of America downgraded Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $36.00 in a report on Wednesday, July 14th. Morgan Stanley cut their price objective on shares of Conagra Brands from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft cut their target price on Conagra Brands from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, July 14th. Citigroup decreased their target price on shares of Conagra Brands from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 14th. Finally, Stifel Nicolaus downgraded Conagra Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Wednesday, July 14th.

In other news, EVP Colleen Batcheler sold 6,210 shares of the company’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $34.96, for a total value of $217,101.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Lenny acquired 10,000 shares of Conagra Brands stock in a transaction on Thursday, July 15th. The stock was acquired at an average price of $34.14 per share, with a total value of $341,400.00. Following the purchase, the director now directly owns 128,261 shares in the company, valued at $4,378,830.54. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CAG. Bank of America Corp DE boosted its stake in Conagra Brands by 0.5% during the 2nd quarter. Bank of America Corp DE now owns 4,539,328 shares of the company’s stock valued at $165,140,000 after purchasing an additional 22,370 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Conagra Brands by 5.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,107,259 shares of the company’s stock valued at $113,042,000 after purchasing an additional 156,942 shares during the period. B. Metzler seel. Sohn & Co. Holding AG lifted its stake in shares of Conagra Brands by 26.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 29,026 shares of the company’s stock valued at $1,056,000 after buying an additional 6,160 shares in the last quarter. Morgan Stanley boosted its holdings in Conagra Brands by 24.7% in the 2nd quarter. Morgan Stanley now owns 3,408,377 shares of the company’s stock worth $123,999,000 after buying an additional 675,454 shares during the period. Finally, Jefferies Group LLC purchased a new stake in Conagra Brands in the 2nd quarter worth $571,000. 83.88% of the stock is owned by institutional investors.

Shares of NYSE CAG traded down $0.11 during mid-day trading on Thursday, reaching $33.19. The company’s stock had a trading volume of 2,747,932 shares, compared to its average volume of 3,591,180. The stock has a market capitalization of $15.94 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.29 and a current ratio of 0.82. Conagra Brands has a 1-year low of $32.25 and a 1-year high of $39.09. The stock has a 50-day moving average of $33.51 and a two-hundred day moving average of $35.92.

Conagra Brands (NYSE:CAG) last posted its earnings results on Monday, July 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Conagra Brands had a return on equity of 15.33% and a net margin of 11.61%. Conagra Brands’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts predict that Conagra Brands will post 2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Tuesday, August 3rd were given a $0.3125 dividend. The ex-dividend date of this dividend was Monday, August 2nd. This represents a $1.25 annualized dividend and a yield of 3.77%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.28. Conagra Brands’s dividend payout ratio (DPR) is presently 47.35%.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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