Conagra Brands Inc (NYSE:CAG) has earned a consensus rating of “Buy” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.40.
CAG has been the topic of a number of recent research reports. Credit Suisse Group set a $40.00 target price on shares of Conagra Brands and gave the stock a “hold” rating in a research report on Monday, December 25th. Stifel Nicolaus upped their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. Morgan Stanley cut their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, September 25th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a report on Tuesday, October 3rd.
Conagra Brands (NYSE CAG) opened at $37.94 on Friday. Conagra Brands has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. The company has a market cap of $15,249.24, a price-to-earnings ratio of 22.72, a PEG ratio of 2.83 and a beta of 0.36.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be issued a $0.213 dividend. The ex-dividend date is Monday, January 29th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a yield of 2.25%. Conagra Brands’s dividend payout ratio is currently 50.90%.
In other Conagra Brands news, Director Joie A. Gregor sold 5,250 shares of the stock in a transaction on Friday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Colleen Batcheler sold 133,869 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The disclosure for this sale can be found here. Insiders sold 264,820 shares of company stock worth $9,505,362 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Sun Life Financial INC raised its holdings in shares of Conagra Brands by 32,666.7% during the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Conagra Brands by 143.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after purchasing an additional 1,851 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Conagra Brands by 57.1% during the second quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock worth $168,000 after purchasing an additional 1,705 shares during the period. Krilogy Financial LLC raised its holdings in shares of Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after purchasing an additional 370 shares during the period. Finally, Evercore Wealth Management LLC raised its holdings in shares of Conagra Brands by 12.9% during the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after purchasing an additional 725 shares during the period. 78.88% of the stock is currently owned by institutional investors.
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About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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