Conagra Brands (NYSE:CAG) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of Conagra Brands (NYSE:CAG) have received a consensus recommendation of “Reduce” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.10.

A number of research firms have recently weighed in on CAG. Evercore set a $12.50 price target on shares of Conagra Brands in a research note on Monday, September 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Conagra Brands in a report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Morgan Stanley dropped their target price on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Finally, Barclays lifted their price target on shares of Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, July 17th.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently bought and sold shares of CAG. Envestnet Portfolio Solutions Inc. grew its holdings in Conagra Brands by 3.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 474,794 shares of the company’s stock valued at $6,391,000 after purchasing an additional 16,213 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Conagra Brands by 7.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 592,592 shares of the company’s stock worth $7,976,000 after buying an additional 41,185 shares during the last quarter. Altar Rock LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $155,000. Engineers Gate Manager LP purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $2,097,000. Finally, Cidel Asset Management Inc. grew its stake in Conagra Brands by 22.5% in the 2nd quarter. Cidel Asset Management Inc. now owns 14,542 shares of the company’s stock valued at $196,000 after acquiring an additional 2,672 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Down 1.1%

Conagra Brands stock opened at $14.16 on Tuesday. The stock’s 50 day moving average price is $15.28 and its 200 day moving average price is $14.64. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32. The company has a market cap of $6.78 billion, a PE ratio of -3.54 and a beta of -0.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Conagra Brands’s revenue was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts predict that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 5th. Conagra Brands’s dividend payout ratio (DPR) is presently -17.50%.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender’s, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt’s and PAM.