Conagra Brands (NYSE:CAG) Receives Average Rating of "Reduce" from Analysts

Key Points

• Analyst sentiment is weak: Conagra Brands has an average rating of "Reduce" from 18 brokerages, with six sell ratings, eleven hold ratings, and just one buy rating. The average 12-month price target is $14.00.
• Several firms cut their targets recently: Goldman Sachs, BNP Paribas Exane, Morgan Stanley, Royal Bank of Canada, and Zacks Research all lowered their price targets or ratings on the stock in recent reports.
• Insiders bought shares despite the cautious outlook: Directors John J. Mulligan and Richard H. Lenny both purchased Conagra shares in April, and insiders now own 0.57% of the company. Institutional investors hold 83.75% of the stock.

Conagra Brands (NYSE:CAG - Get Free Report) has been given an average rating of "Reduce" by the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on Conagra Brands from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Thursday, April 2nd. BNP Paribas Exane decreased their price objective on Conagra Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 21st. Morgan Stanley lowered their target price on shares of Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, June 5th. Royal Bank Of Canada dropped their price target on Conagra Brands from $17.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Thursday, June 25th. Finally, Zacks Research cut shares of Conagra Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, May 11th.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, Director John J. Mulligan purchased 17,500 shares of the stock in a transaction on Tuesday, April 14th. The shares were purchased at an average price of $14.31 per share, with a total value of $250,425.00. Following the completion of the transaction, the director directly owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Lenny purchased 25,000 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAG. Bell Investment Advisors Inc lifted its holdings in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock worth $26,000 after purchasing an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands during the second quarter worth about $26,000. Harbour Investments Inc. increased its stake in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock valued at $27,000 after acquiring an additional 701 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Conagra Brands during the 2nd quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Conagra Brands in the third quarter worth about $33,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

NYSE:CAG opened at $13.79 on Thursday. The firm has a market cap of $6.60 billion, a PE ratio of -137.84 and a beta of -0.02. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.80. The company's 50-day moving average price is $13.62 and its two-hundred day moving average price is $15.85. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra's product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender's and Banquet in the frozen foods category, as well as Hunt's sauces, Orville Redenbacher's popcorn, Slim Jim meat snacks and Reddi-wip toppings.

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