Morgan Stanley Begins Coverage on Conagra Brands (NYSE:CAG)

Equities researchers at Morgan Stanley began coverage on shares of Conagra Brands (NYSE:CAG) in a report released on Monday, Marketbeat reports. The brokerage set an “equal weight” rating and a $27.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 6.38% from the company’s previous close.

A number of other research firms also recently weighed in on CAG. Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.38 on Monday. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $12.11 billion, a PE ratio of 24.88, a PEG ratio of 1.76 and a beta of 0.18. The firm’s fifty day simple moving average is $25.60 and its 200 day simple moving average is $27.73.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new position in Conagra Brands during the fourth quarter worth $29,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands in the fourth quarter valued at $44,000. Institutional investors own 83.75% of the company’s stock.

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.