Conagra Brands, Inc. (NYSE:CAG) Receives $31.18 Consensus Target Price from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned an average rating of “Hold” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $31.18.

Several equities research analysts have recently issued reports on CAG shares. Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Barclays decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th.

Conagra Brands Price Performance

Conagra Brands stock opened at $29.63 on Friday. The firm has a 50-day moving average price of $29.33 and a 200-day moving average price of $29.24. The firm has a market capitalization of $14.17 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.63 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $33.55.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. As a group, equities research analysts forecast that Conagra Brands will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Insider Buying and Selling at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Naples Money Management LLC purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $26,000. First United Bank & Trust acquired a new stake in Conagra Brands in the 4th quarter worth approximately $26,000. Advantage Trust Co acquired a new stake in Conagra Brands in the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust boosted its stake in Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

About Conagra Brands

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.