Conagra Brands (NYSE:CAG) PT Raised to $31.00 at Wells Fargo & Company

Conagra Brands (NYSE:CAG - Get Free Report) had its target price lifted by Wells Fargo & Company from $30.00 to $31.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 2.28% from the company's current price.

CAG has been the topic of a number of other research reports. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They set a "buy" rating and a $36.00 target price for the company. Barclays dropped their target price on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating for the company in a research report on Friday, July 12th. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.63.

Conagra Brands Price Performance

CAG stock traded up $0.59 during trading on Thursday, hitting $30.31. The company had a trading volume of 6,675,142 shares, compared to its average volume of 4,774,871. The company has a fifty day moving average price of $31.15 and a two-hundred day moving average price of $30.29. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company has a market cap of $14.49 billion, a P/E ratio of 41.52, a P/E/G ratio of 3.01 and a beta of 0.32. Conagra Brands has a fifty-two week low of $26.62 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts expect that Conagra Brands will post 2.59 earnings per share for the current fiscal year.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares of the company's stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company's stock.

Institutional Trading of Conagra Brands

Hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after buying an additional 420 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock worth $42,000 after purchasing an additional 836 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Conagra Brands during the first quarter worth approximately $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.