Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $28.33

Shares of Conagra Brands, Inc. (NYSE:CAG) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.33.

CAG has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th.

Conagra Brands Price Performance

Shares of CAG stock opened at $25.65 on Friday. Conagra Brands has a twelve month low of $23.06 and a twelve month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $27.83. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new position in Conagra Brands during the fourth quarter valued at approximately $29,000. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Conagra Brands in the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $44,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

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.