Analysts Set Conagra Brands, Inc. (NYSE:CAG) PT at $31.63

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Six research 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. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.63.

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th.

Insiders Place Their Bets

In other Conagra Brands 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 transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Institutional Trading of Conagra Brands

Large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC purchased a new position in Conagra Brands in the second quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the period. 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 buying an additional 836 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Conagra Brands in the first quarter valued at $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.3 %

NYSE:CAG opened at $29.35 on Tuesday. Conagra Brands has a 12 month low of $26.62 and a 12 month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 3.01 and a beta of 0.32. The firm has a fifty day simple moving average of $31.08 and a two-hundred day simple moving average of $30.27.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. 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. Shareholders of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 191.78%.

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.