Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $31.10

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.00.

A number of equities analysts have commented on the stock. Bank of America dropped their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Citigroup dropped their target price 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. Barclays dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAG. Cambridge Investment Research Advisors Inc. raised its stake in shares of Conagra Brands by 6.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 148,091 shares of the company’s stock worth $4,244,000 after buying an additional 8,945 shares during the period. Parallel Advisors LLC raised its stake in shares of Conagra Brands by 22.5% during the 4th quarter. Parallel Advisors LLC now owns 14,553 shares of the company’s stock worth $417,000 after buying an additional 2,670 shares during the period. Stifel Financial Corp raised its stake in shares of Conagra Brands by 12.2% during the 4th quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after buying an additional 88,576 shares during the period. Focus Financial Network Inc. ADV acquired a new position in shares of Conagra Brands during the 4th quarter worth approximately $310,000. Finally, Treasurer of the State of North Carolina raised its stake in shares of Conagra Brands by 6.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 331,749 shares of the company’s stock worth $9,508,000 after buying an additional 21,350 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $29.35 on Friday. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 2.95 and a beta of 0.32. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $33.24. The firm’s 50-day moving average is $31.29 and its 200 day moving average is $30.26. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Research analysts predict that Conagra Brands will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

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.