Barclays Has Lowered Expectations for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG - Free Report) had its target price trimmed by Barclays from $33.00 to $32.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Citigroup cut their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price target on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.75.

Conagra Brands Trading Up 1.5 %

NYSE:CAG traded up $0.42 on Monday, hitting $27.53. The stock had a trading volume of 4,891,090 shares, compared to its average volume of 4,838,080. The company has a fifty day moving average price of $28.21 and a two-hundred day moving average price of $29.51. Conagra Brands has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG - Get Free Report) last released 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. The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts expect that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.09%. Conagra Brands's dividend payout ratio (DPR) is 137.25%.

Hedge Funds Weigh In On Conagra Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Conagra Brands by 1.7% during the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock worth $373,180,000 after purchasing an additional 196,100 shares in the last quarter. Federated Hermes Inc. increased its holdings in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after buying an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. raised its stake in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Conagra Brands by 2.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock worth $204,571,000 after buying an additional 122,590 shares during the last quarter. 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.