Barclays Lowers Conagra Brands (NYSE:CAG) Price Target to $32.00

Conagra Brands (NYSE:CAG) had its price target decreased by equities researchers at Barclays from $33.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 18.04% from the stock’s previous close.

Several other research firms have also commented on CAG. Wells Fargo & Company lowered their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Citigroup cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.75.

Conagra Brands Trading Up 1.1 %

Shares of Conagra Brands stock opened at $27.11 on Monday. The stock has a market cap of $12.94 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The firm has a fifty day moving average price of $28.21 and a 200 day moving average price of $29.51. Conagra Brands has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts predict that Conagra Brands will post 2.58 earnings per share for the current year.

Institutional Trading of Conagra Brands

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares in the last quarter. Marshall Wace LLP boosted its position in Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the last quarter. Holocene Advisors LP purchased a new stake in Conagra Brands during the 3rd quarter valued at about $65,932,000. Finally, Federated Hermes Inc. raised its holdings in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

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.