Conagra Brands (NYSE:CAG) PT Raised to $34.00

Conagra Brands (NYSE:CAG) had its price objective upped by equities research analysts at Bank of America from $31.00 to $34.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 4.33% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Citigroup dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Evercore ISI decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $31.10.

Conagra Brands Stock Down 0.0 %

Shares of Conagra Brands stock traded down $0.01 during trading hours on Tuesday, hitting $32.59. The company had a trading volume of 1,138,924 shares, compared to its average volume of 4,647,627. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The company’s 50-day moving average is $30.56 and its two-hundred day moving average is $29.92. The company has a market cap of $15.58 billion, a P/E ratio of 44.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the business earned $0.62 EPS. Conagra Brands’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts anticipate that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Conagra Brands

Several large investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Conagra Brands in the second quarter worth about $25,000. Chilton Capital Management LLC bought a new position in Conagra Brands during the second quarter valued at approximately $25,000. Whittier Trust Co. raised its position in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares during the period. LRI Investments LLC bought a new position in shares of Conagra Brands in the first quarter valued at approximately $42,000. Finally, Security National Bank bought a new position in shares of Conagra Brands in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.