Barclays Lowers Conagra Brands (NYSE:CAG) Price Target to $32.00

Conagra Brands (NYSE:CAG) had its price target lowered by Barclays from $33.00 to $32.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lowered their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Finally, Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday. Six investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.75.

Conagra Brands Stock Up 1.5 %

Shares of NYSE:CAG opened at $27.53 on Monday. The firm has a market capitalization of $13.14 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The business has a 50 day simple moving average of $28.21 and a two-hundred day simple moving average of $29.51. Conagra Brands has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Conagra Brands’s revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that Conagra Brands will post 2.58 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.09%. Conagra Brands’s payout ratio is 137.25%.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Conagra Brands by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock worth $18,660,000 after buying an additional 3,597 shares during the last quarter. Inspire Trust Co. N.A. grew its stake in shares of Conagra Brands by 14.7% during the third quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company’s stock worth $2,783,000 after acquiring an additional 11,000 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Conagra Brands during the third quarter valued at about $196,000. Sanctuary Advisors LLC raised its position in shares of Conagra Brands by 526.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company’s stock valued at $5,437,000 after purchasing an additional 140,512 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in Conagra Brands by 0.5% in the 3rd quarter. Hohimer Wealth Management LLC now owns 134,073 shares of the company’s stock worth $4,360,000 after purchasing an additional 642 shares in the last quarter. 83.75% of the stock is 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.