Analysts Set Conagra Brands, Inc. (NYSE:CAG) Price Target at $31.63

Conagra Brands, Inc. (NYSE:CAG) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.38.

CAG has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th.

Conagra Brands Price Performance

NYSE:CAG opened at $27.90 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a 50-day moving average of $28.35 and a 200 day moving average of $29.57. The firm has a market cap of $13.31 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. As a group, research analysts anticipate that Conagra Brands will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.02%. Conagra Brands’s payout ratio is 135.92%.

Institutional Investors Weigh In On Conagra Brands

Large investors have recently made changes to their positions in the stock. Lantz Financial LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at about $201,000. Czech National Bank increased its holdings in Conagra Brands by 8.3% in the 2nd quarter. Czech National Bank now owns 91,099 shares of the company’s stock worth $2,589,000 after buying an additional 6,994 shares during the period. Sequoia Financial Advisors LLC raised its position in Conagra Brands by 8.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,286 shares of the company’s stock worth $349,000 after buying an additional 989 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Conagra Brands by 12.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 44,339 shares of the company’s stock valued at $1,260,000 after acquiring an additional 4,814 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Conagra Brands by 7.3% in the 2nd quarter. V Square Quantitative Management LLC now owns 13,771 shares of the company’s stock valued at $391,000 after acquiring an additional 933 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.