Conagra Brands (NYSE:CAG) Rating Lowered to “Strong Sell” at Sanford C. Bernstein

Conagra Brands (NYSE:CAG) was downgraded by equities research analysts at Sanford C. Bernstein from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

CAG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut their target price on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Barclays lowered their price objective on shares of Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Evercore lowered their price objective on shares of Conagra Brands from $19.00 to $18.00 in a report on Thursday, April 2nd. Finally, Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Conagra Brands Stock Down 2.2%

NYSE CAG opened at $12.58 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The stock has a market capitalization of $6.02 billion, a PE ratio of -125.74 and a beta of -0.02. Conagra Brands has a 1 year low of $12.55 and a 1 year high of $22.81. The business’s 50-day moving average is $14.38 and its 200 day moving average is $16.55.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. Sell-side analysts forecast that Conagra Brands will post 1.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John J. Mulligan acquired 17,500 shares of the stock in a transaction on Tuesday, April 14th. The stock was acquired at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the purchase, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Lenny acquired 25,000 shares of the stock in a transaction on Tuesday, April 14th. The shares were bought at an average price of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. The trade was a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds have recently added to or reduced their stakes in CAG. WealthPlan Investment Management LLC boosted its holdings in Conagra Brands by 5.3% in the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after buying an additional 548 shares during the period. International Private Wealth Advisors LLC boosted its holdings in Conagra Brands by 4.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock worth $228,000 after buying an additional 609 shares during the period. All Terrain Financial Advisors LLC boosted its holdings in Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock worth $3,063,000 after buying an additional 609 shares during the period. Blair William & Co. IL boosted its holdings in Conagra Brands by 0.5% in the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after buying an additional 633 shares during the period. Finally, Jackson Hole Capital Partners LLC boosted its holdings in Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after buying an additional 701 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.