Conagra Brands (NYSE:CAG) PT Lowered to $33.00

Conagra Brands (NYSE:CAG) had its target price decreased by Barclays from $34.00 to $33.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 15.63% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Evercore ISI decreased their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company decreased their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.00.

Conagra Brands Price Performance

Shares of CAG stock traded up $0.16 during mid-day trading on Friday, hitting $28.54. 2,013,931 shares of the stock traded hands, compared to its average volume of 4,743,073. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.60. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.80 and a beta of 0.32. The company’s 50-day simple moving average is $29.50 and its 200-day simple moving average is $29.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Conagra Brands will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

A number of institutional investors have recently made changes to their positions in CAG. Federated Hermes Inc. increased its stake in Conagra Brands by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after acquiring an additional 1,330,249 shares during the period. Norges Bank bought a new position in Conagra Brands during the fourth quarter valued at about $140,473,000. Deutsche Bank AG increased its stake in Conagra Brands by 28.6% during the third quarter. Deutsche Bank AG now owns 2,951,129 shares of the company’s stock valued at $80,920,000 after acquiring an additional 657,170 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Conagra Brands by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock valued at $81,888,000 after acquiring an additional 127,739 shares during the period. Finally, AMF Tjanstepension AB bought a new position in Conagra Brands during the first quarter valued at about $47,980,000. 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.