Conagra Brands (NYSE:CAG) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Conagra Brands (NYSE:CAG – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts have also weighed in on CAG. Stifel Nicolaus dropped their price target on Conagra Brands from $44.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, February 22nd. Bank of America dropped their price target on Conagra Brands to $40.00 in a research note on Monday, March 6th. Evercore ISI boosted their price target on Conagra Brands from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 29th. JPMorgan Chase & Co. boosted their price target on Conagra Brands from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Conagra Brands from a “hold” rating to a “sell” rating and boosted their price target for the stock from $33.00 to $34.00 in a research note on Tuesday, December 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.64.

Conagra Brands Price Performance

CAG opened at $35.67 on Thursday. The business’s 50-day moving average is $37.16 and its two-hundred day moving average is $36.24. Conagra Brands has a 1 year low of $31.01 and a 1 year high of $41.30. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.29. The firm has a market capitalization of $17.00 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.55.

Conagra Brands (NYSE:CAG – Get Rating) last posted its earnings results on Thursday, January 5th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Conagra Brands will post 2.66 earnings per share for the current fiscal year.

Insider Activity at Conagra Brands

In other Conagra Brands news, SVP Robert G. Wise sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $40.90, for a total value of $2,045,000.00. Following the completion of the transaction, the senior vice president now directly owns 22,717 shares of the company’s stock, valued at $929,125.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Utah Retirement Systems raised its stake in shares of Conagra Brands by 0.4% during the 3rd quarter. Utah Retirement Systems now owns 83,870 shares of the company’s stock worth $2,737,000 after buying an additional 300 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Conagra Brands by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,518 shares of the company’s stock worth $1,113,000 after buying an additional 292 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth approximately $635,000. LPL Financial LLC raised its stake in shares of Conagra Brands by 20.3% during the 2nd quarter. LPL Financial LLC now owns 516,609 shares of the company’s stock worth $17,689,000 after buying an additional 87,089 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Conagra Brands by 4.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,234,029 shares of the company’s stock worth $40,266,000 after buying an additional 51,950 shares during the period. 81.08% of the stock is owned by institutional investors and hedge funds.

About Conagra Brands

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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.