Conagra Brands (NYSE:CAG) Price Target Cut to $30.00

Conagra Brands (NYSE:CAG) had its price objective decreased by equities research analysts at Citigroup from $32.00 to $30.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 5.56% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Conagra Brands Stock Up 0.3 %

Shares of CAG opened at $28.42 on Friday. The business’s fifty day moving average price is $29.98 and its two-hundred day moving average price is $29.27. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.75 and a beta of 0.32. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $34.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. On average, analysts predict that Conagra Brands will post 2.62 earnings per share for the current year.

Insider Buying and Selling

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Conagra Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in CAG. American Century Companies Inc. increased its stake in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after buying an additional 1,737,380 shares during the last quarter. Federated Hermes Inc. raised its holdings in Conagra Brands by 18.7% during the fourth 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. Norges Bank acquired a new position in Conagra Brands during the fourth quarter valued at approximately $140,473,000. Deutsche Bank AG grew its stake in Conagra Brands by 28.6% in the third quarter. Deutsche Bank AG now owns 2,951,129 shares of the company’s stock valued at $80,920,000 after purchasing an additional 657,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Conagra Brands by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock worth $81,888,000 after purchasing an additional 127,739 shares during the last quarter. 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.