A number of research firms have changed their ratings and price targets for Conagra Brands (NYSE: CAG):
- 10/17/2024 – Conagra Brands had its price target raised by analysts at Wells Fargo & Company from $30.00 to $31.00. They now have an “equal weight” rating on the stock.
- 10/3/2024 – Conagra Brands was upgraded by analysts at BNP Paribas to a “strong-buy” rating.
- 10/3/2024 – Conagra Brands had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $29.00 price target on the stock.
- 10/3/2024 – Conagra Brands had its price target lowered by analysts at Bank of America Co. from $34.00 to $33.00. They now have a “neutral” rating on the stock.
- 9/17/2024 – Conagra Brands had its price target raised by analysts at Bank of America Co. from $31.00 to $34.00. They now have a “neutral” rating on the stock.
Conagra Brands Price Performance
Shares of NYSE CAG opened at $29.46 on Thursday. The stock has a fifty day simple moving average of $31.13 and a two-hundred day simple moving average of $30.29. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.
Conagra Brands (NYSE:CAG – Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company 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 company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.
Conagra Brands Dividend Announcement
Insiders Place Their Bets
In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the 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 sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.
Institutional Investors Weigh In On Conagra Brands
A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the second quarter worth $25,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Whittier Trust Co. raised its position in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Conagra Brands during the first quarter valued at about $42,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.
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.
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