JPMorgan Chase & Co. Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its target price lowered by JPMorgan Chase & Co. from $29.00 to $26.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on CAG. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Finally, Stifel Nicolaus cut their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Trading Up 4.9 %

Shares of Conagra Brands stock opened at $27.25 on Thursday. The stock has a market cap of $13.00 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands has a 12-month low of $23.06 and a 12-month high of $33.24. The business’s 50 day moving average is $25.82 and its 200-day moving average is $28.21.

Conagra Brands (NYSE:CAG) last posted its quarterly 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 net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Norges Bank acquired a new stake in shares of Conagra Brands during the 4th quarter worth $168,877,000. Massachusetts Financial Services Co. MA bought a new position in shares of Conagra Brands in the fourth quarter worth $110,704,000. Two Sigma Advisers LP raised its stake in 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 in the last quarter. Finally, Holocene Advisors LP bought a new stake in Conagra Brands during the third quarter worth about $65,932,000. 83.75% of the stock is owned by institutional investors.

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.