Conagra Brands (NYSE:CAG) Given New $22.00 Price Target at Morgan Stanley

Conagra Brands (NYSE:CAG - Get Free Report) had its target price reduced by equities research analysts at Morgan Stanley from $27.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 4.07% from the stock's previous close.

A number of other brokerages have also commented on CAG. UBS Group dropped their price target on Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Wells Fargo & Company reduced their price target on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Barclays cut their price objective on 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.82.

Conagra Brands Trading Up 0.4%

CAG stock traded up $0.09 during midday trading on Wednesday, hitting $21.14. The company had a trading volume of 7,515,374 shares, compared to its average volume of 5,758,228. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.56 and a beta of 0.11. Conagra Brands has a 52 week low of $20.26 and a 52 week high of $33.24. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average price is $22.60 and its 200 day moving average price is $24.84.

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

Hedge Funds Weigh In On Conagra Brands

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

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.