Bank of America Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG - Free Report) had its target price decreased by Bank of America from $31.00 to $29.00 in a research report report published on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other analysts have also weighed in on CAG. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price target on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday. Finally, BNP Paribas raised Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Six research 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 stock. According to data from MarketBeat, Conagra Brands has a consensus rating of "Hold" and a consensus target price of $30.88.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.30 during trading on Friday, reaching $27.11. 14,502,491 shares of the company's stock were exchanged, compared to its average volume of 4,837,550. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a market cap of $12.94 billion, a P/E ratio of 26.32, a PEG ratio of 2.91 and a beta of 0.31. The firm's 50-day moving average price is $28.26 and its 200 day moving average price is $29.54.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business's quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.16%. The ex-dividend date is Monday, January 27th. Conagra Brands's payout ratio is presently 135.92%.

Institutional Trading of Conagra Brands

Institutional investors have recently added to or reduced their stakes in the stock. Lantz Financial LLC acquired a new position in shares of Conagra Brands in the 2nd quarter worth approximately $201,000. Fifth Third Bancorp boosted its position in Conagra Brands by 3.4% during the second quarter. Fifth Third Bancorp now owns 24,430 shares of the company's stock valued at $694,000 after acquiring an additional 803 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Conagra Brands by 1.8% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 28,532 shares of the company's stock worth $811,000 after acquiring an additional 513 shares during the period. &PARTNERS acquired a new stake in Conagra Brands during the 2nd quarter worth about $319,000. Finally, Raymond James Trust N.A. raised its position in shares of Conagra Brands by 11.0% in the 2nd quarter. Raymond James Trust N.A. now owns 50,394 shares of the company's stock worth $1,432,000 after acquiring an additional 4,994 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

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.