UBS Group Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target reduced by UBS Group from $20.00 to $19.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on CAG. Bank of America lowered shares of Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Evercore ISI reduced their price target on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research report on Friday, July 11th. Stifel Nicolaus lowered their price objective on Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Morgan Stanley reduced their target price on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on Conagra Brands in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $21.83.

Conagra Brands Stock Performance

Shares of CAG opened at $18.17 on Wednesday. Conagra Brands has a 52-week low of $18.07 and a 52-week high of $32.90. The stock’s 50-day simple moving average is $19.02 and its 200 day simple moving average is $21.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 1.74 and a beta of 0.07.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.7%. Conagra Brands’s dividend payout ratio is 58.58%.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quaker Wealth Management LLC raised its stake in shares of Conagra Brands by 202.3% during the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after acquiring an additional 2,427 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands during the 1st quarter valued at $26,000. CYBER HORNET ETFs LLC purchased a new position in Conagra Brands in the 2nd quarter worth $26,000. Capital Advisors Ltd. LLC lifted its stake in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after purchasing an additional 452 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Conagra Brands during the first quarter valued at about $27,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.