Analysts Set Conagra Brands (NYSE:CAG) Target Price at $22.58

Conagra Brands (NYSE:CAG - Get Free Report) has been assigned an average recommendation of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.1667.

A number of equities analysts have recently weighed in on CAG shares. Royal Bank Of Canada cut their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. Morgan Stanley dropped their price objective on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. Barclays reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Bank of America lowered shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $27.00 to $20.00 in a report on Thursday, June 12th. Finally, The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $26.00 to $21.00 in a report on Monday, June 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Conagra Brands during the second quarter worth about $172,475,000. Ameriprise Financial Inc. boosted its stake in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company's stock valued at $159,625,000 after acquiring an additional 4,191,555 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Conagra Brands by 315.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company's stock valued at $84,340,000 after purchasing an additional 3,128,203 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock worth $217,686,000 after buying an additional 2,702,407 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Conagra Brands by 33.9% in the fourth quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after buying an additional 2,058,000 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Conagra Brands stock traded up $0.0150 during trading hours on Monday, reaching $19.2650. 3,920,723 shares of the stock were exchanged, compared to its average volume of 7,690,684. The stock has a market cap of $9.22 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.85 and a beta of 0.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. Conagra Brands has a 52-week low of $18.18 and a 52-week high of $33.24. The firm's 50 day moving average is $19.92 and its 200 day moving average is $23.05.

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

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.3%. Conagra Brands's payout ratio is presently 58.58%.

Conagra Brands Company Profile

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.