Conagra Brands (NYSE:CAG) Receives "Sector Perform" Rating from Royal Bank Of Canada

Key Points

• Conagra Brands received a "sector perform" rating from Royal Bank of Canada, with a target price of $22.00, indicating a potential upside of 15.85% from its previous close.
• Despite mixed ratings from various analysts, the consensus rating for Conagra Brands is currently a "Hold" with a price target of $21.92.
• In its latest earnings report, Conagra Brands surpassed expectations with an EPS of $0.39 but reported a 5.8% decline in revenue compared to the same quarter last year.

Conagra Brands (NYSE:CAG - Get Free Report)'s stock had its "sector perform" rating reissued by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $22.00 target price on the stock. Royal Bank Of Canada's target price indicates a potential upside of 15.85% from the stock's previous close.

Several other research analysts have also commented on CAG. JPMorgan Chase & Co. assumed coverage on Conagra Brands in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $20.00 price target for the company. Wells Fargo & Company set a $20.00 price target on shares of Conagra Brands in a research report on Thursday. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the company a "market perform" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and decreased their price target for the company from $26.00 to $21.00 in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $21.92.

Conagra Brands Stock Performance

CAG opened at $18.99 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. Conagra Brands has a 12-month low of $17.89 and a 12-month high of $30.47. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.76 and a beta of 0.04. The company's 50 day moving average is $18.98 and its 200 day moving average is $21.69.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently bought and sold shares of CAG. Wealth Enhancement Advisory Services LLC increased its position in Conagra Brands by 35.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,208 shares of the company's stock worth $1,560,000 after buying an additional 14,809 shares during the period. GAMMA Investing LLC grew its holdings in Conagra Brands by 2,180.4% during the first quarter. GAMMA Investing LLC now owns 422,853 shares of the company's stock worth $11,277,000 after acquiring an additional 404,310 shares during the period. Rhumbline Advisers increased its stake in Conagra Brands by 14.4% in the 1st quarter. Rhumbline Advisers now owns 967,696 shares of the company's stock worth $25,808,000 after purchasing an additional 121,882 shares in the last quarter. Czech National Bank grew its position in Conagra Brands by 5.9% during the 1st quarter. Czech National Bank now owns 109,633 shares of the company's stock worth $2,924,000 after purchasing an additional 6,150 shares in the last quarter. Finally, Merit Financial Group LLC raised its position in Conagra Brands by 65.5% during the first quarter. Merit Financial Group LLC now owns 16,381 shares of the company's stock valued at $437,000 after buying an additional 6,485 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.