Stifel Nicolaus Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target decreased by stock analysts at Stifel Nicolaus from $28.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.72% from the stock’s current price.

CAG has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.78.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $23.92 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business’s 50 day moving average price is $26.33 and its 200-day moving average price is $28.62. The firm has a market capitalization of $11.42 billion, a PE ratio of 23.45, a P/E/G ratio of 1.72 and a beta of 0.28. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts expect that Conagra Brands will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Conagra Brands by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 174,719 shares of the company’s stock valued at $4,848,000 after buying an additional 1,639 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Conagra Brands in the 4th quarter valued at $53,000. Inspire Trust Co. N.A. raised its holdings in shares of Conagra Brands by 32.0% in the 4th quarter. Inspire Trust Co. N.A. now owns 113,000 shares of the company’s stock valued at $3,136,000 after buying an additional 27,413 shares during the period. Novem Group purchased a new stake in shares of Conagra Brands in the 4th quarter valued at $282,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Conagra Brands by 8.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,580,987 shares of the company’s stock valued at $99,372,000 after buying an additional 266,415 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.