Conagra Brands, Inc. (NYSE:CAG) Given Consensus Rating of “Hold” by Brokerages

Conagra Brands, Inc. (NYSE:CAG) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $27.90.

CAG has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Barclays increased their price target on Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Morgan Stanley initiated coverage on shares of Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $26.00 in a report on Monday, February 24th.

Conagra Brands Price Performance

Conagra Brands stock opened at $26.19 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands has a 52-week low of $23.06 and a 52-week high of $33.24. The firm’s fifty day moving average is $25.73 and its 200 day moving average is $27.06. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. Sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s payout ratio is 205.88%.

Hedge Funds Weigh In On Conagra Brands

Hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $28,000. Riverview Trust Co acquired a new position in Conagra Brands during the 4th quarter worth approximately $29,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Conagra Brands by 86.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock valued at $40,000 after purchasing an additional 690 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Conagra Brands in the fourth quarter valued at about $41,000. 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.