Conagra Brands (NYSE:CAG) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Conagra Brands (NYSE:CAG) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “equal weight” rating and a $27.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 5.28% from the stock’s current price.

Several other analysts also recently issued reports on CAG. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America decreased their target price 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. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Stock Performance

Shares of CAG stock opened at $25.65 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The stock’s 50-day moving average is $25.62 and its two-hundred day moving average is $27.83. The firm has a market cap of $12.24 billion, a P/E ratio of 25.14, a PEG ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last released 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. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands in the 4th quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in Conagra Brands in the 4th quarter valued at approximately $29,000. Grove Bank & Trust raised its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds 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.