Conagra Brands (NYSE:CAG) Receives Average Rating of “Reduce” from Brokerages

Conagra Brands (NYSE:CAG) has been given an average recommendation of “Reduce” by the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $14.20.

A number of analysts have recently issued reports on the company. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. The Goldman Sachs Group reduced their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, April 2nd. Wells Fargo & Company cut their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Sanford C. Bernstein reiterated an “underperform” rating and set a $12.00 price objective (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Finally, BNP Paribas Exane cut their price objective on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st.

Insider Buying and Selling at Conagra Brands

In other news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares in the company, valued at approximately $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the completion of the acquisition, the director 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 currently owned by company insiders.

Institutional Trading of Conagra Brands

Several hedge funds and other institutional investors have recently modified their holdings of CAG. WealthPlan Investment Management LLC boosted its holdings in shares of Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after acquiring an additional 548 shares during the last quarter. International Private Wealth Advisors LLC grew its stake in shares of Conagra Brands by 4.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock worth $228,000 after acquiring an additional 609 shares during the period. All Terrain Financial Advisors LLC grew its stake in shares of Conagra Brands by 0.3% in the fourth quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock worth $3,063,000 after acquiring an additional 609 shares during the period. Blair William & Co. IL grew its stake in shares of Conagra Brands by 0.5% in the third quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after acquiring an additional 633 shares during the period. Finally, Jackson Hole Capital Partners LLC grew its stake in shares of Conagra Brands by 4.1% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after acquiring an additional 701 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

CAG opened at $13.21 on Friday. The stock has a fifty day moving average of $13.82 and a 200-day moving average of $16.19. The firm has a market capitalization of $6.32 billion, a P/E ratio of -132.12 and a beta of -0.02. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $21.78. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. Conagra Brands’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. Equities analysts forecast that Conagra Brands will post 1.7 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 10.6%. The ex-dividend date was Thursday, April 30th. Conagra Brands’s dividend payout ratio (DPR) is currently -1,400.00%.

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.