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

Conagra Brands, Inc. (NYSE:CAG) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $31.63.

CAG has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America dropped their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock.

Conagra Brands Trading Down 0.3 %

Shares of CAG stock opened at $26.61 on Friday. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.75 and a beta of 0.34. The company’s fifty day simple moving average is $30.07 and its two-hundred day simple moving average is $30.00. 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 issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Conagra Brands will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.26%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Courier Capital LLC increased its position in Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after buying an additional 355 shares in the last quarter. CWM LLC grew its stake in shares of Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after acquiring an additional 362 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after acquiring an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its position in shares of Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other 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.