Brokerages Set Conagra Brands Inc (NYSE:CAG) Price Target at $33.00

Conagra Brands Inc (NYSE:CAG) has been given an average rating of “Buy” by the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.00.

A number of research firms have weighed in on CAG. Berenberg Bank began coverage on shares of Conagra Brands in a research report on Thursday, November 14th. They set a “hold” rating and a $29.00 target price for the company. Citigroup raised their price target on shares of Conagra Brands from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 27th. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Friday, September 6th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, September 19th.

In other Conagra Brands news, COO Thomas M. Mcgough sold 26,099 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares in the company, valued at $4,521,939. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Colleen Batcheler sold 25,458 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the completion of the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in Conagra Brands by 1.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 70,165 shares of the company’s stock worth $1,861,000 after purchasing an additional 683 shares in the last quarter. Dynamic Capital Management Ltd bought a new stake in Conagra Brands during the second quarter worth $271,000. IFG Advisory LLC bought a new stake in Conagra Brands during the second quarter worth $233,000. Janney Montgomery Scott LLC raised its position in Conagra Brands by 1.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,302 shares of the company’s stock valued at $2,863,000 after buying an additional 1,412 shares during the last quarter. Finally, Corient Capital Partners LLC purchased a new stake in Conagra Brands in the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 87.70% of the company’s stock.

NYSE:CAG traded up $0.49 during trading hours on Friday, hitting $29.39. 156,666 shares of the company were exchanged, compared to its average volume of 3,539,856. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37. Conagra Brands has a one year low of $20.22 and a one year high of $31.86. The company has a fifty day simple moving average of $28.09 and a 200 day simple moving average of $28.53.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 26th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.04. Conagra Brands had a return on equity of 12.34% and a net margin of 6.68%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the business earned $0.47 EPS. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities research analysts predict that Conagra Brands will post 2.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 1st were issued a $0.2125 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a yield of 2.89%. Conagra Brands’s payout ratio is currently 42.29%.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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