Conagra Brands (NYSE:CAG) Price Target Cut to $26.00 by Analysts at JPMorgan Chase & Co.

Conagra Brands (NYSE:CAG) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $29.00 to $26.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.42% from the stock’s current price.

Several other equities analysts have also recently commented on CAG. Barclays reduced their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $25.39 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.76 and a beta of 0.28. The business has a 50-day moving average of $25.90 and a 200-day moving average of $28.29.

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 net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Trading of Conagra Brands

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its position 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 worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Norges Bank acquired a new stake in Conagra Brands in the 4th quarter valued at approximately $168,877,000. Massachusetts Financial Services Co. MA bought a new stake in Conagra Brands during the 4th quarter valued at $110,704,000. Two Sigma Advisers LP boosted its position in Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after acquiring an additional 3,133,200 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Conagra Brands in the third quarter worth $65,932,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.