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

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

Other research analysts have also issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.78.

Conagra Brands Trading Down 5.4 %

CAG opened at $23.92 on Wednesday. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.72 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands has a 12 month low of $23.06 and a 12 month high of $33.24. The stock has a fifty day moving average price of $26.33 and a 200-day moving average price of $28.62.

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

Institutional Trading of Conagra Brands

A number of hedge funds have recently modified their holdings of CAG. Pacer Advisors Inc. boosted its stake 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 worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Norges Bank purchased a new position in Conagra Brands during the fourth quarter worth approximately $168,877,000. Massachusetts Financial Services Co. MA purchased a new position in Conagra Brands during the fourth quarter worth approximately $110,704,000. Two Sigma Advisers LP boosted its position in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in Conagra Brands during the third quarter worth approximately $65,932,000. 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.