Conagra Brands (NYSE:CAG) Downgraded to Neutral Rating by The Goldman Sachs Group

Conagra Brands (NYSE:CAG) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Monday,Briefing.com Automated Import reports. They currently have a $26.00 price target on the stock, down from their prior price target of $33.00. The Goldman Sachs Group’s target price suggests a potential upside of 0.72% from the company’s current price.

CAG has been the subject of a number of other reports. Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Barclays cut their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $28.67.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $25.82 on Monday. The company has a market cap of $12.32 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a 50-day simple moving average of $26.15 and a 200-day simple moving average of $28.52. Conagra Brands has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On Conagra Brands

Institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands in the 4th quarter valued at about $29,000. Grove Bank & Trust lifted its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands in the third quarter worth about $47,000. Finally, SBI Securities Co. Ltd. bought a new stake in Conagra Brands in the fourth quarter valued at about $41,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.