Conagra Brands (NYSE:CAG) Upgraded to "Hold" at Zacks Research

Key Points

• Conagra Brands has been upgraded by Zacks Research from a "strong sell" to a "hold" rating as of this Thursday.
• Analysts have varied opinions on Conagra, with one Buy rating, ten Holds, and three Sells, reflecting a consensus price target of $21.92 for the stock.
• The company reported a quarterly EPS of $0.39, beating estimates, but experienced a revenue decline of 5.8% year-over-year, prompting FY 2026 guidance between 1.700-1.85 EPS.

Conagra Brands (NYSE:CAG - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on CAG. Morgan Stanley upped their price objective on shares of Conagra Brands from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 24th. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. UBS Group lowered their price target on shares of Conagra Brands from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, September 24th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $22.00 price target on shares of Conagra Brands in a research note on Thursday. Finally, Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the stock a "market perform" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $21.92.

Conagra Brands Price Performance

Shares of CAG stock opened at $19.12 on Thursday. The business has a fifty day simple moving average of $18.97 and a 200 day simple moving average of $21.60. The company has a market cap of $9.14 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.84 and a beta of 0.03. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Conagra Brands has a twelve month low of $17.89 and a twelve month high of $30.47.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.06. The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The business's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Hedge funds have recently made changes to their positions in the stock. Summit Financial Wealth Advisors LLC lifted its stake in shares of Conagra Brands by 9.0% in the third quarter. Summit Financial Wealth Advisors LLC now owns 44,077 shares of the company's stock worth $851,000 after acquiring an additional 3,622 shares during the period. Aaron Wealth Advisors LLC increased its position in Conagra Brands by 357.1% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 46,628 shares of the company's stock valued at $854,000 after purchasing an additional 36,427 shares during the period. Investors Research Corp raised its holdings in Conagra Brands by 6,395.3% during the 3rd quarter. Investors Research Corp now owns 69,825 shares of the company's stock worth $1,278,000 after purchasing an additional 68,750 shares during the last quarter. Praxis Investment Management Inc. lifted its position in shares of Conagra Brands by 106.5% in the 3rd quarter. Praxis Investment Management Inc. now owns 38,073 shares of the company's stock worth $697,000 after purchasing an additional 19,633 shares during the period. Finally, Cullen Capital Management LLC lifted its position in shares of Conagra Brands by 4,497.6% in the 2nd quarter. Cullen Capital Management LLC now owns 2,740,013 shares of the company's stock worth $56,088,000 after purchasing an additional 2,680,417 shares during the period. 83.75% of the stock is currently owned by 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.

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