Conagra Brands (NYSE:CAG) PT Raised to $34.00

Conagra Brands (NYSE:CAG) had its target price hoisted by research analysts at Bank of America from $31.00 to $34.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 4.33% from the company’s previous close.

A number of other research analysts also recently issued reports on CAG. Barclays lowered their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Citigroup reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.10.

Conagra Brands Stock Down 0.0 %

Shares of NYSE CAG traded down $0.01 during mid-day trading on Tuesday, hitting $32.59. 1,138,924 shares of the stock traded hands, compared to its average volume of 4,647,627. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $33.24. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 2.88 and a beta of 0.32. The stock has a fifty day moving average price of $30.56 and a 200-day moving average price of $29.92.

Conagra Brands (NYSE:CAG) last released its 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 return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts anticipate that Conagra Brands will post 2.61 EPS for the current year.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAG. Innealta Capital LLC acquired a new position in Conagra Brands in the second quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands during the second quarter worth $25,000. Whittier Trust Co. lifted its stake in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. LRI Investments LLC acquired a new position in Conagra Brands during the first quarter worth $42,000. Finally, Security National Bank acquired a new position in Conagra Brands during the fourth quarter worth $48,000. 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.