Conagra Brands, Inc. (NYSE:CAG) Receives $31.63 Consensus PT from Brokerages

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $31.50.

A number of analysts have recently commented on CAG shares. Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report 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. Finally, Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.20 on Wednesday. Conagra Brands has a twelve month low of $26.21 and a twelve month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $13.46 billion, a P/E ratio of 27.38, a PEG ratio of 2.86 and a beta of 0.31. The stock’s 50 day moving average is $28.40 and its 200 day moving average is $29.59.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for 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 firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts predict that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CAG. Innealta Capital LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the 3rd quarter valued at approximately $47,000. Finally, Kennebec Savings Bank purchased a new stake in Conagra Brands during the 3rd quarter valued at $59,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Company Profile

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.