Conagra Brands (NYSE:CAG) Given New $16.00 Price Target at Barclays

Conagra Brands (NYSE:CAG) had its price target decreased by stock analysts at Barclays from $18.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 13.76% from the stock’s current price.

Several other analysts also recently weighed in on CAG. Royal Bank Of Canada reduced their target price on Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating for the company in a report on Thursday, June 25th. The Goldman Sachs Group dropped their price target on Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, April 2nd. BTIG Research assumed coverage on Conagra Brands in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Jefferies Financial Group reduced their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $14.00.

Conagra Brands Price Performance

Shares of CAG opened at $14.06 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.82. The stock has a market cap of $6.73 billion, a PE ratio of -140.64 and a beta of -0.02. The firm has a fifty day moving average price of $13.63 and a 200 day moving average price of $15.88.

Insider Activity at Conagra Brands

In other Conagra Brands news, Director John J. Mulligan purchased 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the purchase, the director directly owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was acquired at an average price of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This represents a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently made changes to their positions in the stock. Bell Investment Advisors Inc boosted its holdings in Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Conagra Brands in the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. raised its holdings in Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Conagra Brands during the second quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Conagra Brands during the third quarter worth $33,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.