Conagra Brands (NYSE:CAG) Upgraded at Zacks Research

Zacks Research upgraded shares of Conagra Brands (NYSE:CAG) from a strong sell rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research report on Saturday, September 27th. Stifel Nicolaus dropped their price target on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, July 11th. The Goldman Sachs Group lowered Conagra Brands from a “neutral” rating to a “sell” rating and dropped their price target for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Morgan Stanley upped their price target on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Finally, Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $21.92.

Conagra Brands Stock Down 0.3%

CAG stock opened at $19.12 on Thursday. The stock has a market capitalization of $9.14 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.84 and a beta of 0.03. The firm has a 50-day simple moving average of $18.97 and a 200-day simple moving average of $21.60. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Conagra Brands has a 52 week low of $17.89 and a 52 week high of $30.47.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. Conagra Brands’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s dividend payout ratio is currently 79.55%.

Institutional Investors Weigh In On Conagra Brands

A number of hedge funds have recently added to or reduced their stakes in CAG. Norges Bank acquired a new stake in Conagra Brands during the 2nd quarter worth approximately $172,475,000. Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 233.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after buying an additional 4,191,555 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Conagra Brands by 315.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after buying an additional 3,128,203 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Conagra Brands by 49.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after buying an additional 2,702,407 shares in the last quarter. Finally, Cullen Capital Management LLC lifted its holdings in Conagra Brands by 4,497.6% during the 2nd quarter. Cullen Capital Management LLC now owns 2,740,013 shares of the company’s stock worth $56,088,000 after buying an additional 2,680,417 shares in the last quarter. 83.75% of the stock is currently 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.