Conagra Brands (NYSE:CAG) Receives $22.58 Average PT from Analysts

Conagra Brands (NYSE:CAG - Get Free Report) has earned an average recommendation of "Hold" from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.58.

A number of equities analysts recently weighed in on the stock. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. UBS Group lowered their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Evercore ISI reduced their target price on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a report on Friday, July 11th. Finally, Stifel Nicolaus reduced their target price on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, July 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in Conagra Brands by 104.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after purchasing an additional 914,820 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Conagra Brands by 11.9% during the first quarter. Victory Capital Management Inc. now owns 842,094 shares of the company's stock worth $22,459,000 after purchasing an additional 89,445 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Conagra Brands by 42.1% during the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock worth $289,000 after purchasing an additional 3,207 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Conagra Brands by 269.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock worth $5,532,000 after purchasing an additional 151,209 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in Conagra Brands during the first quarter worth about $396,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE CAG traded down $0.31 during trading hours on Thursday, hitting $19.32. 9,926,101 shares of the company's stock traded hands, compared to its average volume of 11,560,979. Conagra Brands has a 52-week low of $18.67 and a 52-week high of $33.24. The company has a market capitalization of $9.23 billion, a PE ratio of 8.08, a PEG ratio of 1.88 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The firm's 50-day moving average is $21.26 and its 200-day moving average is $23.95.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results 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). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the company earned $0.61 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company 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 dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.25%. Conagra Brands's dividend payout ratio is currently 58.58%.

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.