Wells Fargo & Company Lowers Conagra Brands (NYSE:CAG) Price Target to $27.00

Conagra Brands (NYSE:CAG) had its price objective decreased by Wells Fargo & Company from $28.00 to $27.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts also recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Bank of America reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.78.

Conagra Brands Stock Up 2.3 %

Shares of NYSE:CAG opened at $24.84 on Tuesday. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.63 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a fifty day moving average price of $26.20 and a two-hundred day moving average price of $28.57. Conagra Brands has a one year low of $23.06 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts anticipate that Conagra Brands will post 2.45 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.64%. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAG. Mackenzie Financial Corp increased its position in Conagra Brands by 128.6% in the fourth quarter. Mackenzie Financial Corp now owns 90,658 shares of the company’s stock worth $2,516,000 after buying an additional 51,005 shares during the period. Forum Financial Management LP boosted its position in shares of Conagra Brands by 75.1% during the 4th quarter. Forum Financial Management LP now owns 14,450 shares of the company’s stock valued at $401,000 after purchasing an additional 6,196 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Conagra Brands by 0.8% in the fourth quarter. Toronto Dominion Bank now owns 255,396 shares of the company’s stock valued at $7,087,000 after buying an additional 1,954 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Conagra Brands by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 174,719 shares of the company’s stock valued at $4,848,000 after purchasing an additional 1,639 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in Conagra Brands during the 4th quarter worth approximately $53,000. 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.