Conagra Brands (NYSE:CAG) Price Target Raised to $34.00 at Bank of America

Conagra Brands (NYSE:CAG) had its price objective upped by Bank of America from $31.00 to $34.00 in a research note published on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set an overweight rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a buy rating and a $36.00 price objective for the company. Royal Bank of Canada lowered their target price on shares of Conagra Brands from $30.00 to $29.00 and set a sector perform rating on the stock in a research note on Friday, July 12th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $32.00 to $30.00 and set a hold rating on the stock in a research note on Friday, July 12th. Finally, Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $31.10.

Conagra Brands Trading Down 0.1 %

Shares of NYSE:CAG opened at $32.56 on Tuesday. The stock has a market capitalization of $15.57 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.88 and a beta of 0.32. Conagra Brands has a 1-year low of $25.16 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The company has a 50 day moving average price of $30.56 and a 200 day moving average price of $29.92.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Conagra Brands will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Transactions at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds have recently bought and sold shares of CAG. Beacon Pointe Advisors LLC lifted its position in shares of Conagra Brands by 21.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 12,329 shares of the company’s stock valued at $353,000 after acquiring an additional 2,157 shares during the period. Kingsview Wealth Management LLC grew its stake in shares of Conagra Brands by 5.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock worth $226,000 after acquiring an additional 403 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of Conagra Brands by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 7,902 shares of the company’s stock worth $226,000 after acquiring an additional 603 shares in the last quarter. ING Groep NV grew its stake in shares of Conagra Brands by 9.1% in the 4th quarter. ING Groep NV now owns 65,296 shares of the company’s stock worth $1,871,000 after acquiring an additional 5,443 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Conagra Brands in the 4th quarter worth $140,473,000. 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.