Conagra Brands, Inc. (NYSE:CAG) Receives $27.80 Consensus Target Price from Analysts

Conagra Brands, Inc. (NYSE:CAG) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.50.

Several research analysts have weighed in on CAG shares. Morgan Stanley started coverage on Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target for the company. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Barclays dropped their price objective on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th.

Conagra Brands Trading Up 0.9%

Shares of CAG opened at $22.97 on Friday. The stock has a fifty day moving average of $25.07 and a two-hundred day moving average of $26.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $10.96 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands has a fifty-two week low of $22.38 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.10%. Conagra Brands’s dividend payout ratio is currently 205.88%.

Institutional Trading of Conagra Brands

Large investors have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new stake in Conagra Brands in the 1st quarter valued at $26,000. Capital Advisors Ltd. LLC boosted its position in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after buying an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Conagra Brands in the 1st quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands in the 4th quarter valued at about $28,000. Finally, Golden State Wealth Management LLC boosted its position in Conagra Brands by 235.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after buying an additional 741 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

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.