Conagra Brands, Inc. (NYSE:CAG) Receives $30.56 Consensus Target Price from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have received an average rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.56.

CAG has been the topic of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th.

Conagra Brands Stock Performance

Shares of CAG opened at $25.94 on Friday. The firm has a market capitalization of $12.38 billion, a PE ratio of 25.18, a P/E/G ratio of 2.91 and a beta of 0.29. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $27.53 and a 200 day moving average price of $29.33. Conagra Brands has a 52-week low of $25.91 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.40%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAG. Pacer Advisors Inc. grew its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP grew its position in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares in the last quarter. Marshall Wace LLP increased its stake in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after buying an additional 2,242,186 shares during the period. Holocene Advisors LP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $65,932,000. Finally, Federated Hermes Inc. boosted its stake in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

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.