Conagra Brands (NYSE:CAG - Free Report) had its price objective reduced by Stifel Nicolaus from $26.00 to $21.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the stock.
Several other analysts have also recently weighed in on CAG. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Barclays dropped their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $22.73.
Check Out Our Latest Stock Report on Conagra Brands
Conagra Brands Stock Performance
Shares of CAG stock traded down $0.10 during midday trading on Friday, hitting $19.39. 20,158,823 shares of the company were exchanged, compared to its average volume of 5,963,453. The firm has a market capitalization of $9.26 billion, a P/E ratio of 8.11, a PEG ratio of 1.84 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.23 and a current ratio of 0.71. The firm's 50 day moving average price is $21.96 and its two-hundred day moving average price is $24.47. Conagra Brands has a 52 week low of $18.82 and a 52 week high of $33.24.
Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.
Conagra Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's dividend payout ratio is 205.88%.
Hedge Funds Weigh In On Conagra Brands
A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Conagra Brands by 104.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock valued at $49,776,000 after acquiring an additional 914,820 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Conagra Brands by 269.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after acquiring an additional 151,209 shares during the period. KBC Group NV boosted its stake in shares of Conagra Brands by 560.1% in the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock valued at $54,480,000 after purchasing an additional 1,733,297 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Conagra Brands during the fourth quarter worth $5,034,000. Finally, Retirement Systems of Alabama increased its position in shares of Conagra Brands by 988.7% during the first quarter. Retirement Systems of Alabama now owns 1,125,033 shares of the company's stock worth $30,005,000 after buying an additional 1,021,698 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Conagra Brands Company Profile
(
Get Free Report)
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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