Conagra Brands (NYSE:CAG) Price Target Raised to $34.00 at Barclays

Conagra Brands (NYSE:CAG) had its price target raised by Barclays from $31.00 to $34.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

CAG has been the subject of several other research reports. Stifel Nicolaus boosted their price target on Conagra Brands from $29.00 to $32.00 and gave the company a hold rating in a research note on Friday. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an equal weight rating in a research report on Friday. Evercore ISI cut Conagra Brands from an outperform rating to an in-line rating and set a $32.00 target price for the company. in a research report on Monday, December 11th. Citigroup upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Friday. Finally, Royal Bank of Canada decreased their target price on Conagra Brands from $32.00 to $30.00 and set a sector perform rating for the company in a research report on Wednesday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $33.14.

Conagra Brands Trading Up 0.7 %

Shares of NYSE CAG opened at $31.30 on Monday. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 3.30 and a beta of 0.41. The business has a 50 day simple moving average of $28.56 and a 200 day simple moving average of $28.36. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $38.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. On average, research analysts predict that Conagra Brands will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds have recently modified their holdings of CAG. Vanguard Group Inc. raised its stake in shares of Conagra Brands by 1.5% in the first quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock valued at $1,837,578,000 after purchasing an additional 786,816 shares in the last quarter. State Street Corp raised its stake in shares of Conagra Brands by 12.8% in the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after purchasing an additional 2,671,720 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 1.7% in the first quarter. Geode Capital Management LLC now owns 9,849,556 shares of the company’s stock valued at $369,112,000 after purchasing an additional 167,385 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

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.