Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Price Target at $29.78

Shares of Conagra Brands, Inc. (NYSE:CAG) have received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.67.

A number of research firms recently commented on CAG. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th.

Institutional Trading of Conagra Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Finance LLC boosted its position in Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after purchasing an additional 362 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after purchasing an additional 376 shares during the period. Bridgewater Advisors Inc. boosted its holdings in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock worth $2,166,000 after buying an additional 429 shares in the last quarter. Finally, Grove Bank & Trust grew its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of CAG opened at $25.34 on Monday. The company has a 50 day moving average of $26.03 and a two-hundred day moving average of $28.44. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. 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 has a twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.52%. Conagra Brands’s payout ratio is 137.25%.

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.