Conagra Brands (NYSE:CAG) Receives Sector Perform Rating from Royal Bank of Canada

by · The Markets Daily

Royal Bank of Canada reissued their sector perform rating on shares of Conagra Brands (NYSE:CAG – Free Report) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $29.00 target price on the stock.

CAG has been the subject of a number of other research reports. Citigroup dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a neutral rating for the company in a research note on Friday, June 28th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $32.00 to $31.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Barclays decreased their price objective on Conagra Brands from $34.00 to $33.00 and set an overweight rating on the stock in a report on Friday, July 12th. Stifel Nicolaus dropped their target price on Conagra Brands from $32.00 to $30.00 and set a hold rating for the company in a report on Friday, July 12th. Finally, Evercore ISI decreased their price target on Conagra Brands from $32.00 to $31.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $31.33.

View Our Latest Research Report on Conagra Brands

Conagra Brands Stock Up 0.5 %

CAG stock opened at $29.51 on Thursday. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The company has a market cap of $14.11 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The business’s 50-day simple moving average is $31.28 and its 200 day simple moving average is $30.28.

Conagra Brands (NYSE:CAG – Get Free Report) 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). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. On average, research analysts anticipate that Conagra Brands will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Conagra Brands

A number of hedge funds and other institutional investors have recently modified their holdings of CAG. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Conagra Brands in the second quarter worth about $25,000. Whittier Trust Co. raised its holdings in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the last quarter. LRI Investments LLC acquired a new position in Conagra Brands during the 1st quarter valued at about $44,000. Finally, Security National Bank bought a new position in shares of Conagra Brands in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

About Conagra Brands

(Get Free Report)

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.

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