Analysts Set Conagra Brands, Inc. (NYSE:CAG) Price Target at $30.56

Conagra Brands, Inc. (NYSE:CAG) has been given an average rating of “Hold” by the ten brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.56.

Several brokerages recently weighed in on CAG. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Barclays lowered their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Bank of America lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAG. Courier Capital LLC grew its position in shares of Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares in the last quarter. CWM LLC grew its holdings in Conagra Brands by 0.4% during the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares in the last quarter. Empirical Finance LLC grew its holdings in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after purchasing an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its holdings in shares of Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $26.62 on Friday. The company has a market cap of $12.71 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.91 and a beta of 0.29. Conagra Brands has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm’s fifty day moving average is $27.69 and its two-hundred day moving average is $29.39.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate 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 issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

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.