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

Shares of Conagra Brands, Inc. (NYSE:CAG) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $33.14.

Several research firms have issued reports on CAG. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 5th.

Conagra Brands Trading Down 0.1 %

NYSE:CAG opened at $28.67 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a 50-day moving average of $30.26 and a 200-day moving average of $29.30. The company has a market cap of $13.71 billion, a PE ratio of 14.41, a PEG ratio of 2.77 and a beta of 0.32. Conagra Brands has a one year low of $25.16 and a one year high of $34.75.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. As a group, equities research analysts expect that Conagra Brands will post 2.62 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Insider Activity at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Conagra Brands during the 4th quarter valued at about $140,473,000. Invesco Ltd. increased its holdings in shares of Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Conagra Brands during the 1st quarter valued at approximately $47,980,000. Finally, Federated Hermes Inc. increased its holdings in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after acquiring an additional 1,330,249 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.