Conagra Brands (NYSE:CAG) Stock Price Expected to Rise, Barclays Analyst Says

Conagra Brands (NYSE:CAG) had its price target raised by equities researchers at Barclays from $27.00 to $29.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 10.08% from the stock’s previous close.

CAG has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective 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. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $27.90.

Conagra Brands Price Performance

Shares of NYSE CAG traded down $0.34 during mid-day trading on Monday, reaching $26.35. The company had a trading volume of 2,645,419 shares, compared to its average volume of 6,139,603. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24. The stock has a market cap of $12.57 billion, a PE ratio of 25.83, a P/E/G ratio of 1.76 and a beta of 0.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $25.74 and a two-hundred day moving average price of $27.40.

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

Hedge Funds Weigh In On Conagra Brands

Several hedge funds have recently bought and sold shares of the business. Sage Capital Advisors llc acquired a new position in shares of Conagra Brands during the 1st quarter valued at about $267,000. Wealth Enhancement Advisory Services LLC grew its holdings in Conagra Brands by 35.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,208 shares of the company’s stock valued at $1,560,000 after purchasing an additional 14,809 shares during the last quarter. Capstone Triton Financial Group LLC raised its position in shares of Conagra Brands by 1.5% in the fourth quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company’s stock valued at $995,000 after purchasing an additional 535 shares during the period. Probity Advisors Inc. raised its position in shares of Conagra Brands by 15.0% in the fourth quarter. Probity Advisors Inc. now owns 15,898 shares of the company’s stock valued at $441,000 after purchasing an additional 2,076 shares during the period. Finally, Siemens Fonds Invest GmbH acquired a new stake in shares of Conagra Brands in the fourth quarter worth $86,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.