Conagra Brands, Inc. (NYSE:CAG) Receives $30.33 Average PT from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG - Get Free Report) have earned an average rating of "Hold" from the ten analysts that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.33.

Several equities research analysts recently commented on the stock. Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Stifel Nicolaus cut their target price on shares of Conagra Brands from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th.

Conagra Brands Stock Performance

NYSE CAG traded up $0.40 during mid-day trading on Thursday, reaching $26.30. 5,309,000 shares of the stock were exchanged, compared to its average volume of 5,553,140. Conagra Brands has a 1 year low of $25.06 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The business's 50 day moving average is $27.01 and its 200-day moving average is $29.10. The company has a market capitalization of $12.55 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts forecast that Conagra Brands will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands's dividend payout ratio (DPR) is currently 137.26%.

Hedge Funds Weigh In On Conagra Brands

A number of institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of 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 purchasing an additional 1,691,945 shares during the period. Nordea Investment Management AB boosted its stake in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC increased its position 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 valued at $373,180,000 after acquiring an additional 196,100 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock worth $204,571,000 after acquiring an additional 122,590 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other 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.