Conagra Brands (NYSE:CAG) Price Target Lowered to $30.00 at Citigroup

Conagra Brands (NYSE:CAG) had its target price lowered by Citigroup from $32.00 to $30.00 in a research note issued to investors on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts have also recently commented 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 price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a hold rating in a research note on Friday, April 5th. Finally, Barclays raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an overweight rating in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Conagra Brands currently has an average rating of Hold and an average target price of $33.00.

Conagra Brands Trading Up 0.3 %

Shares of Conagra Brands stock opened at $28.42 on Friday. Conagra Brands has a 1 year low of $25.16 and a 1 year high of $34.38. The company has a market capitalization of $13.59 billion, a P/E ratio of 14.28, a PEG ratio of 2.75 and a beta of 0.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company’s fifty day moving average is $29.98 and its two-hundred day moving average is $29.27.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business earned $0.76 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Analysts forecast that Conagra Brands will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.93%. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Insider Transactions at Conagra Brands

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

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in Conagra Brands by 7.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after purchasing an additional 373 shares during the period. Czech National Bank grew its holdings in Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after purchasing an additional 392 shares during the period. Kingsview Wealth Management LLC grew its holdings in Conagra Brands by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after purchasing an additional 403 shares during the period. Summit Financial Wealth Advisors LLC grew its holdings in Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after purchasing an additional 430 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after purchasing an additional 445 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.