Conagra Brands (NYSE:CAG) had its price objective decreased by research analysts at Citigroup from $43.00 to $42.00 in a report released on Thursday. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.48% from the stock’s current price.
Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of Conagra Brands in a research note on Friday, March 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $44.00 target price on shares of Conagra Brands in a research note on Thursday, March 22nd. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, May 24th. UBS Group raised their target price on Conagra Brands from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, March 23rd. Finally, JPMorgan Chase & Co. cut their target price on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Conagra Brands has a consensus rating of “Hold” and a consensus price target of $41.67.
NYSE CAG opened at $35.45 on Thursday. Conagra Brands has a one year low of $32.16 and a one year high of $39.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.03 and a quick ratio of 0.52. The firm has a market capitalization of $15.32 billion, a P/E ratio of 20.37, a PEG ratio of 2.08 and a beta of 0.30.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, June 27th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts forecast that Conagra Brands will post 2.05 earnings per share for the current year.
In other news, Director Stephen G. Butler sold 12,092 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the completion of the transaction, the director now directly owns 127,755 shares in the company, valued at approximately $4,749,930.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert G. Wise sold 5,908 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total value of $219,304.96. Following the transaction, the senior vice president now owns 22,781 shares of the company’s stock, valued at $845,630.72. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Conagra Brands by 94.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after acquiring an additional 1,923 shares during the period. Fortis Advisors LLC purchased a new position in Conagra Brands during the 1st quarter valued at about $148,000. Lombard Odier Asset Management Europe Ltd purchased a new position in Conagra Brands during the 4th quarter valued at about $207,000. Chilton Capital Management LLC purchased a new position in Conagra Brands during the 4th quarter valued at about $217,000. Finally, TLP Group LLC purchased a new position in Conagra Brands during the 1st quarter valued at about $228,000. Institutional investors and hedge funds own 76.66% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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