Conagra Brands, Inc. (NYSE:CAG) Receives Consensus Recommendation of “Hold” from Brokerages

Conagra Brands, Inc. (NYSE:CAGGet Rating) has received an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $36.09.

Several research firms have weighed in on CAG. Evercore ISI began coverage on Conagra Brands in a report on Friday, April 8th. They set a “buy” rating and a $40.00 target price on the stock. Consumer Edge lowered Conagra Brands from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a report on Tuesday, March 8th. StockNews.com began coverage on Conagra Brands in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, UBS Group began coverage on Conagra Brands in a report on Wednesday, March 30th. They set a “neutral” rating and a $34.00 target price on the stock.

CAG opened at $31.37 on Friday. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.78 and a beta of 0.68. Conagra Brands has a 1 year low of $30.06 and a 1 year high of $36.97. The company has a current ratio of 0.83, a quick ratio of 0.33 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $34.12 and a 200 day moving average price of $33.91.

Conagra Brands (NYSE:CAGGet Rating) last released its quarterly earnings data on Thursday, April 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 12.46% and a net margin of 9.14%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, April 29th were paid a dividend of $0.3125 per share. The ex-dividend date was Thursday, April 28th. This represents a $1.25 annualized dividend and a yield of 3.98%. Conagra Brands’s dividend payout ratio is 58.14%.

In related news, EVP Colleen Batcheler sold 72,480 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $36.02, for a total transaction of $2,610,729.60. Following the transaction, the executive vice president now directly owns 159,944 shares in the company, valued at $5,761,182.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Darren Serrao sold 11,700 shares of Conagra Brands stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $34.49, for a total value of $403,533.00. Following the sale, the chief operating officer now directly owns 111,978 shares in the company, valued at $3,862,121.22. The disclosure for this sale can be found here. Insiders have sold 109,580 shares of company stock worth $3,952,793 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAG. Guggenheim Capital LLC boosted its holdings in Conagra Brands by 6.1% during the third quarter. Guggenheim Capital LLC now owns 116,898 shares of the company’s stock valued at $3,959,000 after purchasing an additional 6,674 shares in the last quarter. Marshall Wace LLP acquired a new stake in Conagra Brands during the third quarter valued at approximately $1,337,000. MML Investors Services LLC boosted its holdings in Conagra Brands by 39.1% during the third quarter. MML Investors Services LLC now owns 14,154 shares of the company’s stock valued at $479,000 after purchasing an additional 3,976 shares in the last quarter. LPL Financial LLC boosted its holdings in Conagra Brands by 23.8% during the third quarter. LPL Financial LLC now owns 103,134 shares of the company’s stock valued at $3,493,000 after purchasing an additional 19,824 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Conagra Brands by 344.3% during the third quarter. Voloridge Investment Management LLC now owns 154,793 shares of the company’s stock valued at $5,243,000 after purchasing an additional 119,952 shares in the last quarter. 83.21% of the stock is currently owned by institutional investors.

Conagra Brands Company Profile (Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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