Conagra Brands (NYSE:CAG) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reiterated a "neutral" rating on Conagra Brands (CAG) with a revised price target of $20.00, down from $25.00, indicating a potential upside of 3.92% from the previous close.
• Multiple analysts have reduced their price targets for Conagra Brands, with the average target now at $22.17, while the stock’s current trading price is around $19.25.
• Conagra Brands reported an EPS of $0.56 for the last quarter, missing estimates by $0.05, and experienced a 4.3% decline in year-over-year revenue.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Conagra Brands (NYSE:CAG - Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a "neutral" rating and a $20.00 price target on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 3.76% from the company's current price.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada cut their price target on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, July 11th. Wells Fargo & Company lowered their price objective on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Evercore ISI lowered their price objective on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research report on Friday, July 11th. Morgan Stanley lowered their price objective on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Finally, Stifel Nicolaus lowered their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.17.

Conagra Brands Trading Down 2.0%

NYSE:CAG traded down $0.3850 during trading hours on Wednesday, hitting $19.2750. The company had a trading volume of 3,294,316 shares, compared to its average volume of 7,713,113. The company has a market capitalization of $9.23 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 1.88 and a beta of 0.08. The stock has a 50-day moving average price of $19.82 and a 200 day moving average price of $22.94. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The company had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. On average, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds have recently bought and sold shares of the business. Beacon Investment Advisory Services Inc. raised its position in Conagra Brands by 3.2% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock worth $388,000 after buying an additional 450 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after acquiring an additional 452 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Conagra Brands by 33.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock valued at $54,000 after purchasing an additional 505 shares during the last quarter. Capstone Triton Financial Group LLC increased its position in shares of Conagra Brands by 1.5% during the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock valued at $995,000 after purchasing an additional 535 shares during the last quarter. Finally, Equitable Trust Co. increased its position in shares of Conagra Brands by 1.8% during the 1st quarter. Equitable Trust Co. now owns 29,927 shares of the company's stock valued at $798,000 after purchasing an additional 536 shares during 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.