Conagra Brands (NYSE:CAG) Price Target Lowered to $30.00 at Wells Fargo & Company

Conagra Brands (NYSE:CAG - Free Report) had its price objective trimmed by Wells Fargo & Company from $31.00 to $30.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

CAG has been the subject of a number of other reports. Citigroup reduced 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 note on Wednesday, December 11th. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average price target of $31.38.

Conagra Brands Stock Performance

Shares of NYSE:CAG remained flat at $27.90 during mid-day trading on Tuesday. 6,177,976 shares of the company were exchanged, compared to its average volume of 4,775,390. The stock has a fifty day moving average of $28.35 and a 200 day moving average of $29.57. Conagra Brands has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.86 and a beta of 0.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. On average, equities analysts anticipate that Conagra Brands will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.02%. Conagra Brands's payout ratio is 135.92%.

Institutional Trading of Conagra Brands

Large investors have recently added to or reduced their stakes in the company. Lantz Financial LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at about $201,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Conagra Brands by 12.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,339 shares of the company's stock valued at $1,260,000 after buying an additional 4,814 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Conagra Brands by 79.4% during the 2nd quarter. Blue Trust Inc. now owns 2,135 shares of the company's stock worth $63,000 after acquiring an additional 945 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Conagra Brands by 25.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 10,386 shares of the company's stock worth $295,000 after acquiring an additional 2,119 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Conagra Brands by 3.4% in the 2nd quarter. Fifth Third Bancorp now owns 24,430 shares of the company's stock valued at $694,000 after acquiring an additional 803 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

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.