Stifel Nicolaus Cuts Conagra Brands (NYSE:CAG) Price Target to $28.00

Conagra Brands (NYSE:CAG) had its target price trimmed by Stifel Nicolaus from $30.00 to $28.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

CAG has been the topic 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 on the stock in a research report on Wednesday, December 11th. Bank of America decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Price Performance

Shares of CAG stock opened at $25.75 on Friday. The stock has a 50 day moving average price of $27.06 and a 200 day moving average price of $29.15. Conagra Brands has a 52-week low of $25.06 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.29 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last issued 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. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, sell-side analysts predict that Conagra Brands will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.44%. Conagra Brands’s dividend payout ratio is presently 137.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $28,000. Hexagon Capital Partners LLC boosted its position in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares in the last quarter. Grove Bank & Trust grew its stake in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the 3rd quarter worth $47,000. Finally, ST Germain D J Co. Inc. increased its position in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after buying an additional 529 shares in the last quarter. Hedge funds and other institutional investors 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.