Conagra Brands (NYSE:CAG) Cut to Sell at The Goldman Sachs Group

Conagra Brands (NYSE:CAG) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Monday, MarketBeat reports. They currently have a $21.00 target price on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 6.10% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, June 2nd. Barclays dropped their price target on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.60.

Conagra Brands Stock Up 0.5%

Shares of NYSE:CAG opened at $22.37 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $10.68 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.76 and a beta of 0.14. Conagra Brands has a 52-week low of $21.98 and a 52-week high of $33.24. The stock’s fifty day simple moving average is $24.05 and its 200-day simple moving average is $25.56.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC grew its position in shares of Conagra Brands by 6.3% during the first quarter. Inspire Investing LLC now owns 54,092 shares of the company’s stock worth $1,443,000 after acquiring an additional 3,209 shares during the last quarter. WBI Investments LLC boosted its stake in Conagra Brands by 9.1% during the 1st quarter. WBI Investments LLC now owns 113,135 shares of the company’s stock valued at $3,017,000 after purchasing an additional 9,419 shares during the period. Intech Investment Management LLC grew its position in Conagra Brands by 50.6% in the 1st quarter. Intech Investment Management LLC now owns 140,485 shares of the company’s stock worth $3,747,000 after purchasing an additional 47,186 shares during the last quarter. Bayforest Capital Ltd increased its stake in shares of Conagra Brands by 217.7% in the first quarter. Bayforest Capital Ltd now owns 13,327 shares of the company’s stock valued at $355,000 after purchasing an additional 9,132 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Conagra Brands by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,622,873 shares of the company’s stock valued at $96,622,000 after buying an additional 41,886 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

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.