Conagra Brands (NYSE:CAG) Downgraded to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Conagra Brands (NYSE:CAG) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $26.00 target price on the stock, down from their previous target price of $33.00.

A number of other analysts have also recently weighed in on CAG. Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company decreased their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Barclays dropped their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Stifel Nicolaus reduced their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.83 on Monday. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock’s 50-day moving average is $26.11 and its 200-day moving average is $28.49.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared 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 is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

Institutional Trading of Conagra Brands

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the 4th quarter worth about $28,000. Riverview Trust Co bought a new stake in Conagra Brands in the fourth quarter valued at about $29,000. Grove Bank & Trust raised 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 valued at $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands in the 4th 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.