Shares of Conagra Brands Inc (NYSE:CAG) have earned an average recommendation of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.67.
CAG has been the subject of a number of analyst reports. Credit Suisse Group raised their price objective on Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective for the company. SunTrust Banks initiated coverage on Conagra Brands in a research report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Goldman Sachs Group set a $32.00 price objective on Conagra Brands and gave the company a “buy” rating in a research report on Friday, March 22nd.
CAG stock opened at $29.80 on Friday. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $39.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.31 and a quick ratio of 0.58. The company has a market cap of $14.36 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.95 and a beta of 0.89.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities research analysts forecast that Conagra Brands will post 2.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, April 30th were issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s payout ratio is 40.28%.
In other Conagra Brands news, Director Ruth Ann Marshall sold 6,717 shares of Conagra Brands stock in a transaction on Friday, April 26th. The stock was sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the sale, the director now owns 99,897 shares of the company’s stock, valued at approximately $3,096,807. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joie A. Gregor purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the purchase, the director now owns 145,440 shares in the company, valued at $4,361,745.60. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in shares of Conagra Brands by 15.1% in the 4th quarter. Synovus Financial Corp now owns 10,450 shares of the company’s stock worth $222,000 after buying an additional 1,373 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Conagra Brands by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock worth $1,529,309,000 after buying an additional 362,347 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Conagra Brands by 29.9% in the 4th quarter. Bank of Nova Scotia now owns 104,661 shares of the company’s stock worth $2,234,000 after buying an additional 24,063 shares during the last quarter. First Republic Investment Management Inc. boosted its stake 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 worth $1,536,000 after buying an additional 496 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Conagra Brands by 18.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 51,085 shares of the company’s stock worth $1,091,000 after buying an additional 7,969 shares during the last quarter. Hedge funds and other institutional investors own 88.58% of the company’s stock.
About Conagra Brands
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: What is Cost of Goods Sold (COGS)?
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