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

by · The Markets Daily

Conagra Brands, Inc. (NYSE:CAG – Get Free Report) has received an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research 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 12 month price target among brokers that have issued a report on the stock in the last year is $30.56.

Several analysts have recently commented on CAG shares. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Bank of America dropped their price target 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. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th.

Check Out Our Latest Stock Report on CAG

Conagra Brands Trading Down 0.2 %

CAG opened at $26.59 on Friday. Conagra Brands has a 12 month low of $26.21 and a 12 month high of $33.24. The stock has a fifty day moving average price of $27.59 and a 200-day moving average price of $29.35. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 2.91 and a beta of 0.29. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG – Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. The company’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. As a group, equities research analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Integrated Wealth Concepts LLC raised its position in Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after acquiring an additional 19,329 shares during the period. Aigen Investment Management LP acquired a new position in shares of Conagra Brands during the 3rd quarter worth about $1,020,000. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Conagra Brands by 3.1% during the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock valued at $21,934,000 after acquiring an additional 20,384 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

About Conagra Brands

(Get Free Report

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.

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