Conagra Brands (NYSE:CAG - Get Free Report) was downgraded by The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $26.00 target price on the stock, down from their prior target price of $33.00. The Goldman Sachs Group's price target suggests a potential upside of 1.72% from the stock's previous close.
CAG has been the topic of a number of other reports. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Bank of America lowered their target price 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. Citigroup cut their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.67.
Read Our Latest Analysis on Conagra Brands
Conagra Brands Price Performance
Shares of NYSE:CAG traded up $0.20 during trading on Monday, hitting $25.56. 3,876,150 shares of the company were exchanged, compared to its average volume of 5,770,114. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a market capitalization of $12.20 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $26.01 and its 200-day moving average is $28.42.
Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.
Institutional Investors Weigh In On Conagra Brands
Institutional investors and hedge funds have recently made changes to their positions in the business. Empirical Finance LLC lifted its stake in Conagra Brands by 2.3% in 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 period. Bridgewater Advisors Inc. increased its stake 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 valued at $820,000 after acquiring an additional 376 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Conagra Brands by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after acquiring an additional 429 shares during the period. Grove Bank & Trust boosted its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its holdings in Conagra Brands by 1.3% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after purchasing an additional 500 shares during the period. Institutional investors own 83.75% of the company's stock.
About Conagra Brands
(
Get Free Report)
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.
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