Conagra Brands (NYSE:CAG) PT Lowered to $30.00

Conagra Brands (NYSE:CAG) had its price target lowered by equities research analysts at Stifel Nicolaus from $32.00 to $30.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 5.82% from the company’s current price.

A number of other brokerages have also recently issued reports on CAG. Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Barclays boosted their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $28.35 on Friday. Conagra Brands has a 52 week low of $25.16 and a 52 week high of $33.60. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. The stock has a market cap of $13.55 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The company’s 50-day moving average price is $29.46 and its two-hundred day moving average price is $29.22.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.09%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Conagra Brands will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ignite Planners LLC lifted its holdings in shares of Conagra Brands by 17.2% during the 2nd quarter. Ignite Planners LLC now owns 16,580 shares of the company’s stock valued at $468,000 after buying an additional 2,428 shares during the last quarter. Sound Income Strategies LLC raised its position in Conagra Brands by 8.4% during the second quarter. Sound Income Strategies LLC now owns 109,956 shares of the company’s stock valued at $3,125,000 after acquiring an additional 8,481 shares in the last quarter. Carolina Wealth Advisors LLC lifted its stake in Conagra Brands by 9.6% in the second quarter. Carolina Wealth Advisors LLC now owns 148,360 shares of the company’s stock valued at $4,216,000 after acquiring an additional 13,055 shares during the last quarter. OLD National Bancorp IN grew its position in Conagra Brands by 3.1% in the second quarter. OLD National Bancorp IN now owns 264,850 shares of the company’s stock worth $7,527,000 after acquiring an additional 7,888 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth $4,732,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.