Conagra Brands (NYSE:CAG) Price Target Cut to $30.00

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

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company decreased 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 note on Wednesday. Citigroup decreased their price target 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. Finally, Barclays increased their price target 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. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $32.00.

Conagra Brands Trading Down 0.1 %

NYSE CAG opened at $28.36 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm’s fifty day moving average price is $29.46 and its 200 day moving average price is $29.21. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $33.60.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.09%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. On average, sell-side analysts expect that Conagra Brands will post 2.63 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First United Bank & Trust acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $26,000. Naples Money Management LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $26,000. Advantage Trust Co acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $34,000. Parkside Financial Bank & Trust lifted its stake in shares of Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares during the period. 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.