Brokerages Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $31.63

Shares of Conagra Brands, Inc. (NYSE:CAG) have earned a consensus rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.63.

CAG has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Bank of America decreased their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $27.43 on Friday. The stock’s fifty day simple moving average is $29.67 and its 200 day simple moving average is $29.91. Conagra Brands has a 12 month low of $26.21 and a 12 month high of $33.24. The company has a market capitalization of $13.09 billion, a PE ratio of 26.63, a PEG ratio of 2.73 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts predict that Conagra Brands will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.10%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Institutional Trading of Conagra Brands

A number of hedge funds have recently modified their holdings of CAG. Hohimer Wealth Management LLC grew its stake in Conagra Brands by 0.5% in the 3rd quarter. Hohimer Wealth Management LLC now owns 134,073 shares of the company’s stock valued at $4,360,000 after buying an additional 642 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Conagra Brands by 6.4% during the third quarter. Toronto Dominion Bank now owns 253,442 shares of the company’s stock worth $8,242,000 after purchasing an additional 15,325 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Conagra Brands by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 17,707 shares of the company’s stock worth $564,000 after purchasing an additional 2,224 shares during the period. Geode Capital Management LLC increased its stake in shares of Conagra Brands by 1.7% during the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the period. Finally, Geller Advisors LLC increased its stake in shares of Conagra Brands by 19.3% during the third quarter. Geller Advisors LLC now owns 14,397 shares of the company’s stock worth $468,000 after purchasing an additional 2,330 shares during the period. 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.