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

Conagra Brands (NYSE:CAG) had its price objective reduced by research analysts at Evercore from $18.00 to $13.00 in a report released on Wednesday,MarketScreener reports. Evercore’s target price would suggest a potential downside of 1.50% from the company’s previous close.

Several other brokerages also recently weighed in on CAG. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 21st. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. The Goldman Sachs Group dropped their price target on Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, April 2nd. Finally, TD Cowen decreased their price objective on Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, March 25th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Reduce” and a consensus target price of $14.33.

Conagra Brands Trading Up 0.4%

Shares of CAG stock opened at $13.20 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $22.55. The business’s fifty day moving average price is $14.18 and its 200 day moving average price is $16.42. The firm has a market capitalization of $6.31 billion, a PE ratio of -132.21 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Conagra Brands will post 1.7 EPS for the current fiscal year.

Insider Activity

In related news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average cost of $14.31 per share, with a total value of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares in the company, valued at $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard H. Lenny purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Several large investors have recently bought and sold shares of the company. WealthPlan Investment Management LLC boosted its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after buying an additional 548 shares during the last quarter. International Private Wealth Advisors LLC lifted its stake in Conagra Brands by 4.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock valued at $228,000 after acquiring an additional 609 shares during the last quarter. All Terrain Financial Advisors LLC grew its position in shares of Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after acquiring an additional 609 shares during the period. Blair William & Co. IL increased its stake in shares of Conagra Brands by 0.5% during the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after purchasing an additional 633 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC increased its stake in shares of Conagra Brands by 4.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after purchasing an additional 701 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.