Conagra Brands (NYSE:CAG - Get Free Report) had its price objective cut by Wells Fargo & Company from $28.00 to $27.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 4.59% from the company's current price.
A number of other research firms have also issued reports on CAG. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Barclays reduced their target price 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. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Stifel Nicolaus reduced their target price on Conagra Brands from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.78.
Get Our Latest Stock Report on Conagra Brands
Conagra Brands Price Performance
Shares of NYSE:CAG traded up $0.98 during trading on Tuesday, hitting $25.82. 7,589,209 shares of the stock were exchanged, compared to its average volume of 5,840,252. The company has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $28.54. The company has a market cap of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands has a 12-month low of $23.06 and a 12-month high of $33.24.
Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Conagra Brands's revenue was down .4% on a year-over-year basis. On average, analysts forecast that Conagra Brands will post 2.35 EPS for the current year.
Institutional Trading of Conagra Brands
A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Creative Planning increased its holdings in shares of Conagra Brands by 6.1% during the 3rd quarter. Creative Planning now owns 165,064 shares of the company's stock worth $5,368,000 after buying an additional 9,490 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Conagra Brands by 3.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,512 shares of the company's stock worth $1,643,000 after buying an additional 1,537 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Conagra Brands by 266.5% during the 3rd quarter. Blue Trust Inc. now owns 7,824 shares of the company's stock worth $254,000 after buying an additional 5,689 shares during the last quarter. Home Federal Bank of Tennessee increased its holdings in shares of Conagra Brands by 14.5% during the 3rd quarter. Home Federal Bank of Tennessee now owns 20,560 shares of the company's stock worth $669,000 after buying an additional 2,610 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Conagra Brands by 46.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company's stock worth $585,000 after buying an additional 5,693 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.
About Conagra Brands
(
Get Free Report)
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.
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