Shares of Conagra Brands Inc (NYSE:CAG) have been assigned an average rating of “Buy” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.42.
A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price target on the stock. Bank of America set a $35.00 price target on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Evercore ISI assumed coverage on Conagra Brands in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 price target on the stock. SunTrust Banks assumed coverage on Conagra Brands in a research note on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research note on Monday, July 8th.
In related news, Director Richard H. Lenny sold 20,153 shares of Conagra Brands stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $27.27, for a total transaction of $549,572.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ruth Ann Marshall sold 2,436 shares of Conagra Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $29.11, for a total value of $70,911.96. Following the transaction, the director now owns 101,823 shares in the company, valued at $2,964,067.53. The disclosure for this sale can be found here. Insiders have sold 33,589 shares of company stock worth $929,334 over the last quarter. 0.92% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Berman Capital Advisors LLC raised its holdings in Conagra Brands by 86.2% during the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after acquiring an additional 444 shares during the period. Investors Research Corp bought a new stake in Conagra Brands during the first quarter valued at about $28,000. CSat Investment Advisory L.P. raised its holdings in Conagra Brands by 101.4% during the first quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. Kavar Capital Partners LLC bought a new stake in Conagra Brands during the second quarter valued at about $34,000. Finally, Optimum Investment Advisors raised its holdings in Conagra Brands by 335.7% during the first quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock valued at $36,000 after acquiring an additional 1,007 shares during the period. 88.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAG stock traded up $0.45 on Friday, reaching $28.65. The stock had a trading volume of 2,377,396 shares, compared to its average volume of 4,563,148. The firm has a market cap of $13.60 billion, a PE ratio of 14.25, a P/E/G ratio of 1.89 and a beta of 0.86. Conagra Brands has a 1 year low of $20.22 and a 1 year high of $38.43. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.54 and a current ratio of 1.28. The stock’s 50 day simple moving average is $28.20.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that Conagra Brands will post 2.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.85 annualized dividend and a yield of 2.97%. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
Further Reading: How are the companies in the S&P 500 selected?
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.