Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $31.63

Conagra Brands, Inc. (NYSE:CAG) has been given an average rating of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $31.50.

CAG has been the topic of several recent analyst reports. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Citigroup lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.20 on Wednesday. Conagra Brands has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.86 and a beta of 0.31. The stock has a fifty day moving average of $28.40 and a two-hundred day moving average of $29.59. 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) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 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 analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. On average, analysts anticipate that Conagra Brands will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.97%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Institutional Investors Weigh In On Conagra Brands

Several large investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Conagra Brands during the 2nd quarter worth $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands during the second quarter worth about $25,000. Hexagon Capital Partners LLC boosted its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at about $47,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Conagra Brands during the 3rd quarter valued at about $59,000. 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.