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

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) has received a consensus recommendation of "Hold" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $31.63.

Several research analysts have issued reports on CAG shares. Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Bank of America dropped their price objective on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a "buy" rating and a $36.00 price target on the stock.

Conagra Brands Trading Down 2.7 %

NYSE:CAG traded down $0.75 during midday trading on Friday, hitting $26.70. 10,674,028 shares of the company traded hands, compared to its average volume of 4,736,162. The firm has a market capitalization of $12.74 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.85 and a beta of 0.34. The firm's fifty day moving average is $30.20 and its 200-day moving average is $30.03. Conagra Brands has a 12-month low of $26.21 and a 12-month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 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 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.84 billion. During the same period in the prior year, the company posted $0.66 EPS. The company's revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Thursday, October 31st. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Courier Capital LLC boosted its position in Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company's stock valued at $880,000 after purchasing an additional 355 shares in the last quarter. CWM LLC lifted its position in shares of Conagra Brands by 0.4% during the third quarter. CWM LLC now owns 87,222 shares of the company's stock valued at $2,836,000 after buying an additional 359 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock valued at $533,000 after buying an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock valued at $1,716,000 after buying an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its position in shares of Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company's stock worth $820,000 after buying an additional 376 shares during 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.