Conagra Brands (NYSE:CAG) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Conagra Brands (NYSE:CAG) has received an average recommendation of "Hold" from 13 analysts, with two sell ratings, nine hold ratings, one buy rating, and one strong buy rating.
• The company reported earnings of $0.56 per share for the last quarter, falling short of the consensus estimate of $0.61, and saw a 4.3% decline in year-over-year revenue.
• Conagra Brands announced a quarterly dividend of $0.35, representing a 7.2% dividend yield, with a payout ratio of 58.58%.

Conagra Brands (NYSE:CAG - Get Free Report) has earned an average rating of "Hold" from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has 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 ratings on the stock in the last year is $22.1667.

A number of brokerages have recently weighed in on CAG. Evercore ISI cut their target price on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company reduced their price objective on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and decreased their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a "market perform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley reduced their price target on shares of 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.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently modified their holdings of CAG. Quaker Wealth Management LLC increased its holdings in shares of Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company's stock worth $25,000 after purchasing an additional 2,427 shares during the period. Alpine Bank Wealth Management purchased a new position in Conagra Brands during the first quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the 2nd quarter worth about $26,000. Capital Advisors Ltd. LLC raised its holdings in shares of Conagra Brands by 82.3% in the 1st 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 in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Conagra Brands during the 1st quarter valued at about $27,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.5%

Shares of Conagra Brands stock opened at $19.46 on Friday. The stock has a 50 day moving average price of $19.27 and a two-hundred day moving average price of $22.41. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The stock has a market capitalization of $9.32 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 1.85 and a beta of 0.07.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.2%. Conagra Brands's dividend payout ratio (DPR) 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.

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