Conagra Brands (NYSE:CAG) Price Target Cut to $28.00 by Analysts at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its target price decreased by Stifel Nicolaus from $30.00 to $28.00 in a research report report published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

CAG has been the topic of several other research reports. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Performance

CAG opened at $25.75 on Friday. The firm’s fifty day simple moving average is $27.06 and its two-hundred day simple moving average is $29.15. Conagra Brands has a 52-week low of $25.06 and a 52-week high of $33.24. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.72 and a beta of 0.29. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. Equities analysts anticipate that Conagra Brands will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.44%. Conagra Brands’s payout ratio is currently 137.26%.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares in the last quarter. Holocene Advisors LP purchased a new position in Conagra Brands in the 3rd quarter valued at approximately $65,932,000. State Street Corp boosted its holdings in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the period. Finally, Ilex Capital Partners UK LLP purchased a new stake in Conagra Brands during the 3rd quarter worth about $46,990,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.