Stifel Nicolaus Cuts Conagra Brands (NYSE:CAG) Price Target to $26.00

Conagra Brands (NYSE:CAG - Get Free Report) had its price objective lowered by analysts at Stifel Nicolaus from $28.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 0.72% from the company's previous close.

A number of other research analysts have also commented on CAG. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company cut their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Seven investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.78.

Conagra Brands Stock Performance

CAG stock traded up $0.98 during midday trading on Wednesday, reaching $25.82. 7,472,977 shares of the company's stock traded hands, compared to its average volume of 5,750,748. The company has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $28.57. The firm has a market capitalization of $12.32 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands in the fourth quarter worth about $28,000. Riverview Trust Co bought a new position in Conagra Brands in the fourth quarter worth about $29,000. Grove Bank & Trust raised its stake in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the fourth quarter worth about $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter worth about $44,000. 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.