JPMorgan Chase & Co. Lowers Conagra Brands (NYSE:CAG) Price Target to $29.00

Conagra Brands (NYSE:CAG) had its price target cut by analysts at JPMorgan Chase & Co. from $30.00 to $29.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.88% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company lowered their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Trading Down 0.1 %

NYSE:CAG opened at $27.65 on Friday. Conagra Brands has a 52 week low of $26.21 and a 52 week high of $33.24. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.91 and a beta of 0.29. The company’s 50 day moving average price is $27.81 and its 200-day moving average price is $29.41. 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 (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. On average, equities research analysts forecast that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAG. Integrated Wealth Concepts LLC boosted its holdings in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after buying an additional 19,329 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Conagra Brands during the third quarter worth about $1,020,000. Pacer Advisors Inc. raised its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the period. Swedbank AB lifted its holdings in Conagra Brands by 3.1% in the 3rd quarter. Swedbank AB now owns 674,465 shares of the company’s stock worth $21,934,000 after purchasing an additional 20,384 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Conagra Brands in the 3rd quarter worth approximately $967,000. 83.75% of the stock is currently owned by institutional investors.

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.