Analysts Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $36.60

Conagra Brands, Inc. (NYSE:CAG) has been given an average rating of “Hold” by the twelve brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.60.

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Conagra Brands in a research note on Monday, September 13th. Stifel Nicolaus cut shares of Conagra Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $35.00 in a research note on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Conagra Brands from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, July 14th. Citigroup decreased their price target on Conagra Brands from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 14th. Finally, Credit Suisse Group raised Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price objective for the company in a research note on Wednesday, September 29th.

In other Conagra Brands news, EVP Colleen Batcheler sold 6,210 shares of the firm’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $34.96, for a total transaction of $217,101.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Conagra Brands by 0.5% during the second quarter. Vanguard Group Inc. now owns 55,659,425 shares of the company’s stock valued at $2,024,889,000 after purchasing an additional 258,706 shares during the period. BlackRock Inc. increased its position in Conagra Brands by 4.3% during the second quarter. BlackRock Inc. now owns 37,462,174 shares of the company’s stock valued at $1,362,875,000 after acquiring an additional 1,553,583 shares during the last quarter. State Street Corp raised its stake in shares of Conagra Brands by 3.4% in the second quarter. State Street Corp now owns 21,819,022 shares of the company’s stock valued at $793,776,000 after acquiring an additional 712,405 shares during the period. American Century Companies Inc. raised its stake in shares of Conagra Brands by 11.1% in the second quarter. American Century Companies Inc. now owns 10,750,549 shares of the company’s stock valued at $391,105,000 after acquiring an additional 1,073,549 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Conagra Brands by 2.2% in the 2nd quarter. LSV Asset Management now owns 9,595,785 shares of the company’s stock worth $349,094,000 after acquiring an additional 203,100 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

CAG stock traded up $0.16 on Monday, hitting $33.32. The company had a trading volume of 24,366 shares, compared to its average volume of 3,595,520. The company has a current ratio of 0.82, a quick ratio of 0.29 and a debt-to-equity ratio of 0.96. Conagra Brands has a 12-month low of $32.25 and a 12-month high of $39.09. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.91 and a beta of 0.88. The stock’s 50-day simple moving average is $33.46 and its 200 day simple moving average is $35.58.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 6th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.53 billion. Conagra Brands had a return on equity of 15.33% and a net margin of 11.61%. Conagra Brands’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. Research analysts forecast that Conagra Brands will post 2.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 1st will be given a $0.3125 dividend. The ex-dividend date is Friday, October 29th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.75%. Conagra Brands’s dividend payout ratio is currently 47.35%.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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