Conagra Brands (NYSE:CAG) Given New $33.00 Price Target at Bank of America

Conagra Brands (NYSE:CAG) had its target price cut by Bank of America from $34.00 to $33.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued a sector perform rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They set a buy rating and a $36.00 price target for the company. Citigroup cut their price target on Conagra Brands from $32.00 to $30.00 and set a neutral rating for the company in a report on Friday, June 28th. Wells Fargo & Company cut their price target 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. Finally, Evercore ISI cut their price target on Conagra Brands from $32.00 to $31.00 and set a neutral rating for the company in a report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of Hold and an average price target of $31.00.

Conagra Brands Stock Down 2.4 %

CAG stock opened at $29.35 on Thursday. Conagra Brands has a 1-year low of $25.16 and a 1-year high of $33.24. The business has a fifty day moving average price of $31.29 and a 200-day moving average price of $30.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The stock has a market capitalization of $14.03 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Equities analysts forecast that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.77%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $25,000. Chilton Capital Management LLC acquired a new stake in Conagra Brands in the second quarter valued at about $25,000. Whittier Trust Co. lifted its position in 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. LRI Investments LLC acquired a new stake in shares of Conagra Brands during the 1st quarter valued at approximately $42,000. Finally, Security National Bank acquired a new stake in shares of Conagra Brands during the 4th quarter valued at approximately $48,000. 83.75% of the stock is currently 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.