Conagra Brands, Inc. (NYSE:CAG) Given Average Rating of “Hold” by Brokerages

Conagra Brands, Inc. (NYSE:CAG) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities 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 issued a report on the stock in the last year is $31.63.

A number of equities research analysts recently weighed in on CAG shares. Bank of America lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd.

Institutional Investors Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC increased its stake in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares in the last quarter. LRI Investments LLC acquired a new stake in Conagra Brands in the 1st quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter worth about $47,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Down 2.8 %

Shares of Conagra Brands stock opened at $26.69 on Friday. The company’s 50-day moving average price is $30.20 and its 200-day moving average price is $30.04. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.85 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands has a 12-month low of $26.21 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. On average, equities analysts expect that Conagra Brands will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.25%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.