Conagra Brands (NYSE:CAG) PT Lowered to $33.00 at Bank of America

by · The Markets Daily

Conagra Brands (NYSE:CAG – Free Report) had its price target lowered by Bank of America from $34.00 to $33.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus cut their target price on Conagra Brands from $32.00 to $30.00 and set a hold rating on the stock in a research note on Friday, July 12th. Barclays reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an overweight rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a buy rating and a $36.00 target price for the company. Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price objective on Conagra Brands from $32.00 to $31.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $31.00.

Check Out Our Latest Stock Report on Conagra Brands

Conagra Brands Trading Up 0.5 %

NYSE:CAG opened at $29.51 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a 50-day simple moving average of $31.28 and a 200-day simple moving average of $30.27. Conagra Brands has a one year low of $25.16 and a one year high of $33.24. The firm has a market cap of $14.11 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG – Get Free Report) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. Equities analysts anticipate that Conagra Brands will post 2.61 EPS for the current fiscal 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is 191.78%.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAG. Bessemer Group Inc. increased its holdings in shares of Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Conagra Brands by 663.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock worth $12,516,000 after acquiring an additional 379,473 shares during the period. SG Americas Securities LLC boosted its stake in shares of Conagra Brands by 261.3% during the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after acquiring an additional 106,368 shares in the last quarter. M&G Plc acquired a new stake in shares of Conagra Brands during the 1st quarter valued at about $7,429,000. Finally, UniSuper Management Pty Ltd increased its stake in shares of Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock valued at $1,128,000 after purchasing an additional 32,396 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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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