Morgan Stanley Cuts Conagra Brands (NYSE:CAG) Price Target to $20.00

Conagra Brands (NYSE:CAG - Get Free Report) had its price objective lowered by analysts at Morgan Stanley from $22.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 2.67% from the company's current price.

A number of other research firms have also recently issued reports on CAG. The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and cut their price objective for the company from $26.00 to $21.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday. UBS Group lowered their target price on Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Finally, Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of "Hold" and a consensus price target of $24.55.

Conagra Brands Stock Performance

CAG stock opened at $19.48 on Friday. Conagra Brands has a 12-month low of $18.82 and a 12-month high of $33.24. The firm has a market cap of $9.30 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.55 and a beta of 0.11. The stock's 50 day simple moving average is $22.04 and its 200 day simple moving average is $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 (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The business had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAG. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company's stock worth $1,610,971,000 after acquiring an additional 1,604,893 shares during the period. Invesco Ltd. lifted its stake in shares of Conagra Brands by 6.3% in the 1st quarter. Invesco Ltd. now owns 11,859,985 shares of the company's stock valued at $316,306,000 after purchasing an additional 698,630 shares during the period. Geode Capital Management LLC increased its position in shares of Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after acquiring an additional 231,477 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock worth $217,686,000 after acquiring an additional 2,702,407 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after purchasing an additional 2,058,000 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

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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