Conagra Brands, Inc. (NYSE:CAG) Receives $27.90 Consensus Price Target from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.90.

Several equities research analysts have recently issued reports on CAG shares. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Barclays lifted their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, April 7th.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.39 on Tuesday. The company has a market cap of $12.12 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands has a one year low of $23.06 and a one year high of $33.24. The business has a fifty day moving average of $25.78 and a two-hundred day moving average of $26.87. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.51%. Conagra Brands’s payout ratio is currently 205.88%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Conagra Brands by 70.1% during the third quarter. Wellington Management Group LLP now owns 73,291 shares of the company’s stock worth $2,383,000 after purchasing an additional 30,215 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Conagra Brands by 526.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company’s stock valued at $5,437,000 after purchasing an additional 140,512 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Conagra Brands during the 3rd quarter valued at approximately $196,000. Inspire Trust Co. N.A. grew its stake in shares of Conagra Brands by 14.7% during the third quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company’s stock worth $2,783,000 after buying an additional 11,000 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Conagra Brands by 0.6% during the third quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock worth $18,660,000 after buying an additional 3,597 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

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.