Conagra Brands (NYSE:CAG) Given New $30.00 Price Target at Wells Fargo & Company

Conagra Brands (NYSE:CAG) had its target price cut by Wells Fargo & Company from $31.00 to $30.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently commented on CAG. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.38.

Conagra Brands Stock Performance

NYSE:CAG opened at $27.90 on Tuesday. Conagra Brands has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm’s 50-day moving average is $28.35 and its 200-day moving average is $29.57. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly 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). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is currently 135.92%.

Institutional Trading of Conagra Brands

A number of hedge funds have recently made changes to their positions in CAG. State Street Corp lifted its holdings in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Conagra Brands by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after buying an additional 196,100 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares during the period. Pacer Advisors Inc. grew its stake in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after acquiring an additional 122,590 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

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.