Conagra Brands, Inc. (NYSE:CAG) Receives Average Rating of “Hold” from Brokerages

Conagra Brands, Inc. (NYSE:CAG) has been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $33.14.

A number of equities research analysts have issued reports on the stock. Citigroup upped their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Royal Bank of Canada cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Stifel Nicolaus upped their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Barclays lifted their target price on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday.

Conagra Brands Stock Down 2.0 %

Shares of NYSE:CAG opened at $29.99 on Friday. The business’s 50 day moving average is $28.63 and its 200 day moving average is $28.41. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $38.73. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 3.15 and a beta of 0.42. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, sell-side analysts forecast that Conagra Brands will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.67%. Conagra Brands’s payout ratio is 70.35%.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co raised its holdings in Conagra Brands by 132.8% during the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after acquiring an additional 539 shares during the period. Naples Money Management LLC bought a new stake in shares of Conagra Brands during the 4th quarter valued at $26,000. First United Bank & Trust bought a new stake in shares of Conagra Brands during the 4th quarter valued at $26,000. Thompson Investment Management Inc. lifted its holdings in Conagra Brands by 100.0% during the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC bought a new position in Conagra Brands in the 3rd quarter worth about $33,000. Institutional investors own 83.75% of the company’s stock.

About Conagra Brands

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