Conagra Brands (NYSE:CAG) Given New $21.00 Price Target at UBS Group

Conagra Brands (NYSE:CAG - Get Free Report) had its price objective reduced by equities research analysts at UBS Group from $22.00 to $21.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price indicates a potential downside of 0.61% from the company's previous close.

CAG has been the subject of a number of other research reports. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and cut their price target for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Wells Fargo & Company lowered their price target on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective on the stock. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.27.

Conagra Brands Price Performance

Conagra Brands stock traded up $0.66 during midday trading on Tuesday, reaching $21.13. 1,960,619 shares of the stock were exchanged, compared to its average volume of 5,707,232. Conagra Brands has a 52 week low of $20.26 and a 52 week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. The firm has a market cap of $10.09 billion, a PE ratio of 31.01, a PEG ratio of 1.52 and a beta of 0.14. The company's fifty day moving average is $22.69 and its 200-day moving average is $24.87.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CAG. Proficio Capital Partners LLC purchased a new position in Conagra Brands during the 4th quarter valued at $2,035,000. US Bancorp DE raised its stake in Conagra Brands by 0.4% in the fourth quarter. US Bancorp DE now owns 212,694 shares of the company's stock worth $5,902,000 after buying an additional 896 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Conagra Brands by 84.8% in the fourth quarter. Metis Global Partners LLC now owns 28,279 shares of the company's stock worth $785,000 after buying an additional 12,977 shares during the period. Jones Financial Companies Lllp boosted its position in Conagra Brands by 40.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60,713 shares of the company's stock valued at $1,685,000 after acquiring an additional 17,435 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands during the 4th quarter worth approximately $41,000. Institutional investors own 83.75% of the company's stock.

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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