Conagra Brands (NYSE:CAG) Price Target Increased to $34.00 by Analysts at Bank of America

Conagra Brands (NYSE:CAG) had its price target upped by equities researchers at Bank of America from $31.00 to $34.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 3.88% from the stock’s previous close.

A number of other research analysts have also recently issued reports on CAG. Stifel Nicolaus lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays lowered their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Citigroup decreased their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Finally, Evercore ISI decreased their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.10.

Conagra Brands Trading Up 0.5 %

NYSE CAG opened at $32.73 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.24. The firm has a market capitalization of $15.65 billion, a PE ratio of 44.84, a P/E/G ratio of 2.88 and a beta of 0.32. The stock’s 50 day moving average is $30.63 and its 200 day moving average is $29.96.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Research analysts forecast that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on 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 in the company, valued at $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Institutional Trading of Conagra Brands

A number of hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Conagra Brands during the second quarter valued at $829,000. SPC Financial Inc. grew its holdings in Conagra Brands by 18.9% during the second quarter. SPC Financial Inc. now owns 10,700 shares of the company’s stock valued at $304,000 after purchasing an additional 1,700 shares during the period. Point72 Asset Management L.P. bought a new stake in Conagra Brands during the second quarter valued at about $1,482,000. EP Wealth Advisors LLC grew its holdings in Conagra Brands by 10.2% during the second quarter. EP Wealth Advisors LLC now owns 10,980 shares of the company’s stock valued at $312,000 after purchasing an additional 1,018 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Conagra Brands during the second quarter valued at about $224,000. Hedge funds and other institutional investors 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.