Conagra Brands (NYSE:CAG) PT Lowered to $33.00

Conagra Brands (NYSE:CAG - Get Free Report) had its price target cut by stock analysts at Bank of America from $34.00 to $33.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price points to a potential upside of 12.44% from the stock's previous close.

Other analysts have also issued research reports about the stock. Evercore ISI dropped their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, July 12th. Stifel Nicolaus cut their price objective on Conagra Brands from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, July 12th. Wells Fargo & Company decreased their target price on Conagra Brands from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 10th. Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, July 12th. Finally, Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, June 28th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.00.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded down $0.73 during midday trading on Thursday, hitting $29.35. 8,036,968 shares of the company were exchanged, compared to its average volume of 4,797,597. The firm has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $30.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The firm has a market cap of $14.03 billion, a P/E ratio of 40.07, a PEG ratio of 2.95 and a beta of 0.32. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The firm's revenue was down 3.8% compared to the same quarter last year. Research analysts forecast that Conagra Brands will post 2.61 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Thomas M. Mcgough sold 40,000 shares of the company's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares of the company's stock, valued at approximately $4,890,108.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Conagra Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands during the second quarter worth $25,000. Whittier Trust Co. raised its holdings 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 acquiring an additional 836 shares during the period. LRI Investments LLC bought a new stake in Conagra Brands in the 1st quarter valued at $42,000. Finally, Security National Bank bought a new stake in Conagra Brands in the 4th quarter valued at $48,000. Institutional investors and hedge funds 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.