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

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned an average rating of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.10.

Several equities analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Bank of America lifted their target price on Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Conagra Brands by 6.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 148,091 shares of the company’s stock worth $4,244,000 after buying an additional 8,945 shares during the last quarter. Parallel Advisors LLC increased its position in Conagra Brands by 22.5% in the fourth quarter. Parallel Advisors LLC now owns 14,553 shares of the company’s stock worth $417,000 after purchasing an additional 2,670 shares during the period. Stifel Financial Corp increased its position in Conagra Brands by 12.2% in the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after purchasing an additional 88,576 shares during the period. Focus Financial Network Inc. ADV bought a new position in Conagra Brands during the fourth quarter worth about $310,000. Finally, Treasurer of the State of North Carolina boosted its holdings in Conagra Brands by 6.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 331,749 shares of the company’s stock worth $9,508,000 after buying an additional 21,350 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $32.72 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $31.28 and its two-hundred day moving average price is $30.27. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $33.24. The stock has a market cap of $15.64 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the business earned $0.62 earnings per share. Conagra Brands’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conagra Brands will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.28%. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

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.