Conagra Brands, Inc. (NYSE:CAG) Receives $31.63 Consensus Target Price from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, Marketbeat 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 twelve-month target price among analysts that have issued ratings on the stock in the last year is $31.38.

Several research firms have recently issued reports on CAG. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday. Citigroup reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. State Street Corp lifted its stake in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Geode Capital Management LLC lifted its stake in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares in 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 purchasing an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Conagra Brands by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after purchasing an additional 122,590 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Conagra Brands stock opened at $27.90 on Wednesday. The business’s 50-day moving average price is $28.35 and its 200 day moving average price is $29.57. 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 firm has a market cap of $13.31 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. Conagra Brands has a 52 week low of $26.21 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned $0.66 earnings per share. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

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

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.