JPMorgan Chase & Co. Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG - Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $30.00 to $29.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 4.88% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Citigroup cut 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. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Barclays dropped 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. Bank of America reduced their price objective 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. Finally, BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.56.

Conagra Brands Trading Down 0.1 %

Shares of CAG stock traded down $0.02 on Friday, hitting $27.65. The stock had a trading volume of 4,490,435 shares, compared to its average volume of 5,017,168. 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 has a twelve month low of $26.21 and a twelve month high of $33.24. The company has a fifty day moving average price of $27.84 and a two-hundred day moving average price of $29.42. The firm has a market cap of $13.20 billion, a P/E ratio of 26.84, a PEG ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, analysts forecast that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Integrated Wealth Concepts LLC lifted its position in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock valued at $1,196,000 after buying an additional 19,329 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Conagra Brands during the 3rd quarter valued at $1,020,000. Pacer Advisors Inc. boosted its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the period. Swedbank AB increased its holdings in shares of Conagra Brands by 3.1% in the third quarter. Swedbank AB now owns 674,465 shares of the company's stock valued at $21,934,000 after purchasing an additional 20,384 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Conagra Brands in the third quarter valued at about $967,000. 83.75% of the stock is owned by institutional investors.

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.