Shares of Conagra Brands, Inc. (NYSE:CAG – Get Free Report) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.63.
A number of equities analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th.
Get Our Latest Research Report on Conagra Brands
Insiders Place Their Bets
Institutional Trading of Conagra Brands
Large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC purchased a new position in Conagra Brands in the second quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the period. Whittier Trust Co. increased its position in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Conagra Brands in the first quarter valued at $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Conagra Brands Trading Down 0.3 %
NYSE:CAG opened at $29.35 on Tuesday. Conagra Brands has a 12 month low of $26.62 and a 12 month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 3.01 and a beta of 0.32. The firm has a fifty day simple moving average of $31.08 and a two-hundred day simple moving average of $30.27.
Conagra Brands (NYSE:CAG – Get Free Report) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. Analysts expect that Conagra Brands will post 2.59 EPS for the current fiscal year.
Conagra Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 191.78%.
About Conagra Brands
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.
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