Brokerages Set Conagra Brands, Inc. (NYSE:CAG) PT at $31.63

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.63.

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Bank of America decreased their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd.

Conagra Brands Price Performance

Conagra Brands stock opened at $27.43 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The company has a market capitalization of $13.09 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. Conagra Brands has a one year low of $26.21 and a one year high of $33.24. The business has a 50 day simple moving average of $29.67 and a 200 day simple moving average of $29.91.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted $0.66 EPS. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Conagra Brands will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $25,000. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. LRI Investments LLC acquired a new stake in Conagra Brands during the 1st quarter worth $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands during the 3rd quarter worth $47,000. Institutional investors and hedge funds 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.