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

Conagra Brands, Inc. (NYSE:CAG) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $33.14.

Several research analysts recently issued reports on the stock. Citigroup increased their price target 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. Barclays upped their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus upped their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th.

Conagra Brands Stock Down 0.9 %

Shares of CAG opened at $29.07 on Wednesday. The company has a 50-day simple moving average of $30.10 and a 200-day simple moving average of $29.29. The firm has a market capitalization of $13.90 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.82 and a beta of 0.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $34.50.

Conagra Brands (NYSE:CAG) last posted 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. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business posted $0.76 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Conagra Brands will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were issued a $0.35 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.82%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Insider Activity at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Conagra Brands

Several large investors have recently bought and sold shares of CAG. Pacer Advisors Inc. raised its holdings in Conagra Brands by 188.3% in the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after purchasing an additional 100,141 shares during the period. Teacher Retirement System of Texas raised its holdings in Conagra Brands by 316.6% in the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Conagra Brands by 120.3% in the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after purchasing an additional 469,421 shares during the period. Valley Wealth Managers Inc. raised its holdings in Conagra Brands by 7.7% in the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after purchasing an additional 37,149 shares during the period. Finally, Adams Asset Advisors LLC acquired a new stake in Conagra Brands in the fourth quarter worth $7,690,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

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.