Conagra Brands, Inc. (NYSE:CAG) Receives $31.63 Average PT from Analysts

Conagra Brands, Inc. (NYSE:CAG) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities 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 company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.63.

CAG has been the subject of several recent research reports. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd.

Institutional Investors Weigh In On Conagra Brands

Several large investors have recently modified their holdings of CAG. State Street Corp grew its holdings in Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the period. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after buying an additional 196,100 shares during the period. Federated Hermes Inc. lifted its position in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.3 %

NYSE:CAG opened at $26.61 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands has a one year low of $26.21 and a one year high of $33.24. The company has a market cap of $12.70 billion, a PE ratio of 25.83, a PEG ratio of 2.75 and a beta of 0.34. The firm has a 50-day moving average of $30.07 and a 200-day moving average of $30.00.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results 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). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities research analysts expect that Conagra Brands will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

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.