Conagra Brands, Inc. (NYSE:CAG) Given Average Rating of "Hold" by Brokerages

Shares of Conagra Brands, Inc. (NYSE:CAG - Get Free Report) have been assigned an average rating of "Hold" from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.50.

Several brokerages have commented on CAG. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Inspire Trust Co. N.A. lifted its position in Conagra Brands by 14.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company's stock worth $2,783,000 after acquiring an additional 11,000 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Conagra Brands during the 3rd quarter valued at approximately $196,000. Sanctuary Advisors LLC grew its holdings in Conagra Brands by 526.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company's stock valued at $5,437,000 after buying an additional 140,512 shares during the last quarter. Hohimer Wealth Management LLC increased its position in Conagra Brands by 0.5% in the 3rd quarter. Hohimer Wealth Management LLC now owns 134,073 shares of the company's stock worth $4,360,000 after buying an additional 642 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of Conagra Brands by 6.4% during the third quarter. Toronto Dominion Bank now owns 253,442 shares of the company's stock worth $8,242,000 after buying an additional 15,325 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Conagra Brands stock traded down $0.11 during trading hours on Wednesday, hitting $27.73. 4,834,909 shares of the company traded hands, compared to its average volume of 4,772,763. Conagra Brands has a 1-year low of $26.21 and a 1-year high of $33.24. The firm has a market cap of $13.23 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.80 and a beta of 0.31. The firm's 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $29.63. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm earned $0.66 EPS. Conagra Brands's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, analysts forecast that Conagra Brands will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

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.