Analysts Set Conagra Brands, Inc. (NYSE:CAG) PT at $31.63

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $31.50.

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America cut their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd.

Institutional Trading of Conagra Brands

A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Two Sigma Advisers LP increased its stake in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares during the period. Marshall Wace LLP raised its holdings in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Conagra Brands during the third quarter worth approximately $65,932,000. Finally, Federated Hermes Inc. grew its holdings in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.20 on Wednesday. Conagra Brands has a 12-month low of $26.21 and a 12-month high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.31. The firm’s fifty day moving average price is $28.40 and its 200 day moving average price is $29.59.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, research analysts forecast that Conagra Brands will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.97%. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.