Analysts Set Conagra Brands, Inc. (NYSE:CAG) PT at $33.14

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

A number of brokerages have recently commented on CAG. Barclays upped their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Finally, Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th.

Hedge Funds Weigh In On Conagra Brands

A number of large investors have recently bought and sold shares of CAG. Whittier Trust Co. of Nevada Inc. boosted its holdings in Conagra Brands by 7.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after purchasing an additional 373 shares during the last quarter. Czech National Bank boosted its stake in shares of Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after buying an additional 392 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Conagra Brands by 1.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock valued at $781,000 after acquiring an additional 393 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Conagra Brands by 5.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after acquiring an additional 403 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC increased its position in shares of Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after acquiring an additional 430 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.3 %

Shares of CAG opened at $30.19 on Tuesday. The stock has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $28.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 3.07 and a beta of 0.38. Conagra Brands has a 52-week low of $25.16 and a 52-week high of $38.04.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The business 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 firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Analysts predict that Conagra Brands will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio is presently 70.35%.

Conagra Brands Company Profile

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.