Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Price Target at $27.90

Conagra Brands, Inc. (NYSE:CAG) has received an average rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $27.90.

CAG has been the topic of a number of recent research reports. Barclays boosted their target price on Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently modified their holdings of CAG. Brookstone Capital Management boosted its position in Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after purchasing an additional 62,187 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Conagra Brands by 41.0% during the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock worth $2,175,000 after buying an additional 22,790 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares in the last quarter. Sound Income Strategies LLC grew its stake in Conagra Brands by 13.2% in the 4th quarter. Sound Income Strategies LLC now owns 135,352 shares of the company’s stock valued at $3,756,000 after acquiring an additional 15,834 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in Conagra Brands in the 4th quarter valued at about $558,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Up 1.7 %

Shares of Conagra Brands stock opened at $25.31 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $12.08 billion, a P/E ratio of 24.82, a PEG ratio of 1.76 and a beta of 0.27. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The company’s fifty day moving average is $25.76 and its two-hundred day moving average is $26.98.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. Conagra Brands’s payout ratio is 205.88%.

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.