Wells Fargo & Company Raises Conagra Brands (NYSE:CAG) Price Target to $31.00

Conagra Brands (NYSE:CAG) had its price target upped by Wells Fargo & Company from $30.00 to $31.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also commented on CAG. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays lowered their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Up 0.0 %

Shares of NYSE:CAG opened at $30.32 on Thursday. The firm has a fifty day moving average of $31.15 and a two-hundred day moving average of $30.30. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands has a 12-month low of $26.62 and a 12-month high of $33.24. The firm has a market capitalization of $14.49 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is presently 191.78%.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth about $25,000. Innealta Capital LLC bought a new position in Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the last quarter. Whittier Trust Co. increased its position in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the period. Finally, LRI Investments LLC bought a new stake in Conagra Brands during the 1st quarter worth about $44,000. 83.75% of the stock is owned by institutional investors.

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.