Evercore ISI Lowers Conagra Brands (NYSE:CAG) Price Target to $24.00

Conagra Brands (NYSE:CAG - Get Free Report) had its price target lowered by equities research analysts at Evercore ISI from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price target indicates a potential upside of 25.69% from the company's current price.

A number of other analysts also recently issued reports on the stock. Barclays cut their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. UBS Group dropped their price objective on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $26.00 to $21.00 in a report on Monday, June 9th. Royal Bank Of Canada dropped their price target on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of "Hold" and a consensus target price of $22.82.

Conagra Brands Stock Down 2.0%

Shares of NYSE CAG traded down $0.40 during mid-day trading on Friday, hitting $19.10. The company had a trading volume of 8,377,395 shares, compared to its average volume of 6,893,623. The company has a market capitalization of $9.12 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.55 and a beta of 0.11. The firm has a 50-day simple moving average of $22.04 and a two-hundred day simple moving average of $24.53. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. Conagra Brands has a one year low of $18.82 and a one year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The firm had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in Conagra Brands in the fourth quarter worth about $2,035,000. Raymond James Financial Inc. bought a new stake in shares of Conagra Brands in the fourth quarter valued at $16,588,000. Daiwa Securities Group Inc. raised its stake in shares of Conagra Brands by 7.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 62,930 shares of the company's stock valued at $1,746,000 after buying an additional 4,435 shares during the period. Independent Advisor Alliance raised its stake in Conagra Brands by 9.5% in the 4th quarter. Independent Advisor Alliance now owns 8,788 shares of the company's stock valued at $244,000 after acquiring an additional 765 shares during the period. Finally, AGF Management Ltd. bought a new stake in Conagra Brands in the 4th quarter valued at about $2,646,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Company Profile

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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