Conagra Brands (NYSE:CAG) Earns “Sector Perform” Rating from Royal Bank of Canada

Conagra Brands (NYSE:CAG)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $29.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 6.97% from the company’s previous close.

A number of other research analysts have also recently commented on CAG. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.88.

Conagra Brands Stock Performance

NYSE:CAG opened at $27.11 on Friday. The firm’s fifty day simple moving average is $28.21 and its 200 day simple moving average is $29.52. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts expect that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in Conagra Brands during the second quarter valued at $25,000. Hexagon Capital Partners LLC raised its holdings in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth about $47,000. Finally, Kennebec Savings Bank acquired a new position in shares of Conagra Brands in the 3rd quarter valued at about $59,000. Institutional investors own 83.75% of the company’s stock.

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.