Stifel Nicolaus Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price objective cut by equities research analysts at Stifel Nicolaus from $28.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 4.66% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Barclays decreased their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $29.78.

Conagra Brands Price Performance

NYSE CAG opened at $24.84 on Wednesday. The business has a 50 day simple moving average of $26.20 and a 200 day simple moving average of $28.57. Conagra Brands has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.63 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $0.71 EPS. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts anticipate that Conagra Brands will post 2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brookstone Capital Management grew its stake in shares of Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after buying an additional 19,329 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock valued at $2,175,000 after buying an additional 22,790 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Conagra Brands in the third quarter valued at $1,020,000. 83.75% of the stock is owned by institutional investors.

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.