Conagra Brands (NYSE:CAG) Price Target Cut to $26.00 by Analysts at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its price objective lowered by Stifel Nicolaus from $28.00 to $26.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

CAG has been the subject of a number of other research reports. Barclays decreased their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Citigroup dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.78.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $24.27 on Wednesday. The firm has a market capitalization of $11.58 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.72 and a beta of 0.28. The firm’s 50-day moving average price is $26.26 and its 200-day moving average price is $28.59. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts anticipate that Conagra Brands will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared 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 5.77%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Conagra Brands by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the last quarter. State Street Corp grew its position in Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after buying an additional 1,691,945 shares during the period. Nordea Investment Management AB increased its holdings in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares during the last quarter. Geode Capital Management LLC raised its position in Conagra Brands by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company’s stock worth $325,096,000 after acquiring an additional 231,477 shares during the period. Finally, Invesco Ltd. boosted its stake in Conagra Brands by 18.5% in the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock valued at $309,728,000 after acquiring an additional 1,745,319 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.