Conagra Brands (NYSE:CAG) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Conagra Brands (NYSE:CAG - Free Report) in a research report sent to investors on Monday, Marketbeat reports. The firm issued an equal weight rating and a $27.00 price target on the stock.

A number of other analysts also recently commented on CAG. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and a consensus target price of $28.20.

Remove Ads

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.09 during trading on Monday, reaching $26.55. The company's stock had a trading volume of 5,047,931 shares, compared to its average volume of 5,060,410. The business has a 50 day moving average price of $25.63 and a 200-day moving average price of $27.67. Conagra Brands has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a market capitalization of $12.67 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Institutional Trading of Conagra Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. State Street Corp boosted its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC increased its holdings in shares of Conagra Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after buying an additional 231,477 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after buying an additional 1,745,319 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

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.