Conagra Brands (NYSE:CAG) Stock Has Consensus Target Price of $14.07

Conagra Brands (NYSE:CAG) has received a consensus recommendation of “Reduce” from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.07.

CAG has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. Barclays reduced their price target on Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. UBS Group increased their price target on Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, September 18th. Finally, Evercore set a $13.00 price objective on Conagra Brands in a research report on Tuesday, September 29th.

Conagra Brands Price Performance

NYSE CAG opened at $14.88 on Friday. The firm’s fifty day simple moving average is $14.84 and its two-hundred day simple moving average is $14.39. The firm has a market capitalization of $7.10 billion, a P/E ratio of -3.74 and a beta of 0.02. The company has a current ratio of 1.10, a quick ratio of 0.39 and a debt-to-equity ratio of 1.08. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, September 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. Conagra Brands had a negative net margin of 16.95% and a positive return on equity of 11.46%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the company posted $0.39 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Analysts forecast that Conagra Brands will post 1.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 5th will be paid a $0.1750 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. Conagra Brands’s payout ratio is currently -17.59%.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its position in shares of Conagra Brands by 25.0% in the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock valued at $13,634,000 after purchasing an additional 157,423 shares in the last quarter. AIA Group Ltd grew its position in shares of Conagra Brands by 319.5% during the first quarter. AIA Group Ltd now owns 411,099 shares of the company’s stock worth $6,462,000 after buying an additional 313,106 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Conagra Brands during the second quarter worth approximately $1,071,275,000. Corient Private Wealth LP increased its stake in shares of Conagra Brands by 655.5% in the second quarter. Corient Private Wealth LP now owns 1,356,285 shares of the company’s stock worth $18,256,000 after buying an additional 1,176,752 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Conagra Brands by 233.9% in the first quarter. Bleakley Financial Group LLC now owns 162,249 shares of the company’s stock worth $2,551,000 after buying an additional 113,657 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company’s portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Hunt’s, Slim Jim, Orville Redenbacher’s, Chef Boyardee, Hebrew National, Vlasic and PAM.