Conagra Brands (NYSE:CAG) Rating Reiterated by Royal Bank of Canada

Conagra Brands (NYSE:CAG)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They presently have a $29.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential downside of 1.74% from the stock’s current price.

A number of other brokerages have also recently issued reports on CAG. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays decreased their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Citigroup cut their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Evercore ISI decreased their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and an average price target of $31.00.

Conagra Brands Trading Up 0.6 %

CAG stock opened at $29.52 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.24. The company has a market cap of $14.11 billion, a P/E ratio of 40.43, a PEG ratio of 2.95 and a beta of 0.32. The business has a fifty day moving average of $31.29 and a 200-day moving average of $30.26.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts expect that Conagra Brands will post 2.61 EPS for the current year.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Czech National Bank boosted its position in shares of Conagra Brands by 7.1% during the third quarter. Czech National Bank now owns 97,587 shares of the company’s stock worth $3,174,000 after buying an additional 6,488 shares during the period. Sanctuary Advisors LLC acquired a new position in Conagra Brands during the 2nd quarter worth approximately $829,000. SPC Financial Inc. grew its stake in shares of Conagra Brands by 18.9% during the 2nd quarter. SPC Financial Inc. now owns 10,700 shares of the company’s stock worth $304,000 after acquiring an additional 1,700 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Conagra Brands in the second quarter valued at approximately $1,482,000. Finally, EP Wealth Advisors LLC lifted its position in shares of Conagra Brands by 10.2% in the second quarter. EP Wealth Advisors LLC now owns 10,980 shares of the company’s stock worth $312,000 after purchasing an additional 1,018 shares in the last quarter. 83.75% of the stock is 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.