Jefferies Financial Group Lowers Conagra Brands (NYSE:CAG) Price Target to $13.00

Key Points

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Conagra Brands (NYSE:CAG - Get Free Report) had its target price decreased by investment analysts at Jefferies Financial Group from $15.00 to $13.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has a "hold" rating on the stock. Jefferies Financial Group's target price points to a potential downside of 3.31% from the stock's previous close.

A number of other research firms also recently commented on CAG. JPMorgan Chase & Co. dropped their price objective on Conagra Brands from $19.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 20th. Barclays dropped their price objective on Conagra Brands from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, April 2nd. Evercore reduced their target price on Conagra Brands from $19.00 to $18.00 in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Conagra Brands from $18.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Finally, Royal Bank Of Canada dropped their price target on Conagra Brands from $20.00 to $17.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of "Reduce" and an average target price of $15.47.

Conagra Brands Stock Up 2.2%

Shares of Conagra Brands stock traded up $0.30 on Wednesday, reaching $13.45. 1,942,251 shares of the company were exchanged, compared to its average volume of 14,303,773. The stock's 50 day moving average price is $14.68 and its 200-day moving average price is $16.72. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. Conagra Brands has a 1-year low of $13.14 and a 1-year high of $23.09. The company has a market cap of $6.43 billion and a P/E ratio of -134.44.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm's revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. As a group, equities analysts forecast that Conagra Brands will post 1.7 EPS for the current year.

Insider Buying and Selling at Conagra Brands

In related news, Director Richard H. Lenny bought 25,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were bought at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the transaction, the director owned 229,340 shares of the company's stock, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John J. Mulligan acquired 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the acquisition, the director owned 20,728 shares of the company's stock, valued at $296,617.68. This represents a 542.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Conagra Brands

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

Conagra Brands Company Profile

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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