Conagra Brands (NYSE:CAG) Now Covered by The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group started coverage on shares of Conagra Brands (NYSE:CAG) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 18.58% from the stock’s current price.

A number of other brokerages have also weighed in on CAG. Barclays cut their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company cut their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. 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 research note on Friday, July 12th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Citigroup decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.45.

Conagra Brands Price Performance

Shares of CAG opened at $30.36 on Monday. The company has a 50 day moving average of $29.24 and a two-hundred day moving average of $29.37. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $31.82. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 41.59, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

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

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction 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 completion of the sale, 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 is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Large investors have recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the second quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in Conagra Brands during the 2nd quarter worth $25,000. First United Bank & Trust purchased a new stake in shares of Conagra Brands during the fourth quarter worth $26,000. Naples Money Management LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $26,000. Finally, Advantage Trust Co purchased a new position in shares of Conagra Brands in the fourth quarter worth about $34,000. 83.75% of the stock is currently owned by hedge funds and other 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.