Royal Bank Of Canada Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG - Free Report) had its price target trimmed by Royal Bank Of Canada from $25.00 to $22.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

CAG has been the topic of a number of other reports. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Barclays cut their price objective 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. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and cut their price objective for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Morgan Stanley cut their price target on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, UBS Group lowered their price objective on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and a consensus target price of $22.73.

Conagra Brands Stock Performance

Shares of CAG traded down $0.10 during trading hours on Friday, reaching $19.39. 20,158,823 shares of the company traded hands, compared to its average volume of 5,963,453. Conagra Brands has a 1-year low of $18.82 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.23 and a current ratio of 0.71. The stock has a market cap of $9.26 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.11. The stock's fifty day moving average is $21.96 and its 200 day moving average is $24.47.

Conagra Brands (NYSE:CAG - Get Free Report) last posted 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 firm had revenue of $2,781,800 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 period in the previous year, the business posted $0.61 EPS. Equities research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is currently 205.88%.

Hedge Funds Weigh In On Conagra Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Bank Wealth Management bought a new position in Conagra Brands in the 1st quarter valued at approximately $26,000. Capital Advisors Ltd. LLC lifted its stake in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Conagra Brands during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC increased its holdings in Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after buying an additional 741 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in Conagra Brands in the first quarter worth $34,000. 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.