Conagra Brands, Inc. (NYSE:CAG) Receives $33.14 Average PT from Analysts

Conagra Brands, Inc. (NYSE:CAG) has been assigned an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.14.

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Stifel Nicolaus raised their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Citigroup raised their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays raised their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th.

Conagra Brands Trading Up 1.1 %

CAG stock opened at $28.82 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $34.65. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 2.81 and a beta of 0.32. The business’s 50-day moving average is $30.13 and its 200 day moving average is $29.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm posted $0.76 EPS. Conagra Brands’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were paid a $0.35 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.86%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the transaction, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

Several institutional investors have recently modified their holdings of CAG. Naples Money Management LLC acquired a new position in shares of Conagra Brands in the fourth quarter worth $26,000. First United Bank & Trust acquired a new position in shares of Conagra Brands during the fourth quarter worth $26,000. Advantage Trust Co acquired a new position in shares of Conagra Brands during the fourth quarter worth $34,000. Parkside Financial Bank & Trust grew its stake in shares of Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.