Conagra Brands (NYSE:CAG) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Conagra Brands (NYSE:CAG) in a research report report published on Monday, Marketbeat reports. The firm issued an equal weight rating and a $27.00 price target on the stock.

CAG has been the topic of several other research reports. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Barclays cut their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.20.

Conagra Brands Stock Performance

NYSE CAG opened at $25.92 on Monday. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.37 billion, a P/E ratio of 25.41, a PEG ratio of 1.76 and a beta of 0.18. The stock has a 50-day simple moving average of $25.61 and a two-hundred day simple moving average of $27.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands in the fourth quarter worth approximately $29,000. Grove Bank & Trust increased its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the 4th quarter valued at $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.