Conagra Brands, Inc. (NYSE:CAG) Receives Consensus Rating of “Hold” from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have been given an average rating of “Hold” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $29.78.

A number of analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd.

Conagra Brands Trading Up 3.9 %

CAG opened at $25.82 on Monday. Conagra Brands has a one year low of $23.06 and a one year high of $33.24. The stock has a market capitalization of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. The business’s 50 day moving average price is $26.15 and its 200 day moving average price is $28.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio is presently 137.25%.

Hedge Funds Weigh In On Conagra Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co purchased a new stake in Conagra Brands during the fourth quarter worth approximately $29,000. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Conagra Brands during the fourth quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Conagra Brands during the fourth quarter worth approximately $44,000. 83.75% of the stock is 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.