Conagra Brands (NYSE:CAG) Stock Price Up 2.7% - Time to Buy?

Conagra Brands, Inc. (NYSE:CAG - Get Free Report) shares rose 2.7% during mid-day trading on Friday . The stock traded as high as $27.35 and last traded at $27.50. Approximately 1,826,352 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 5,093,265 shares. The stock had previously closed at $26.78.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAG. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Barclays increased their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Bank of America dropped their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Price Performance

The company has a 50 day moving average price of $25.69 and a 200 day moving average price of $27.23. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $12.28 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.44%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Hedge Funds Weigh In On Conagra Brands

A number of large investors have recently made changes to their positions in CAG. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after buying an additional 1,132,839 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Geode Capital Management LLC increased its position in Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after acquiring an additional 231,477 shares during the period. Invesco Ltd. increased its position in Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after acquiring an additional 1,745,319 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after purchasing an additional 2,058,000 shares during the period. 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.