Conagra Brands (NYSE:CAG) received a $30.00 price objective from equities researchers at Bank of America in a research note issued on Friday. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 13.42% from the company’s current price.
A number of other equities analysts have also recently commented on the stock. Goldman Sachs Group lifted their price objective on shares of Conagra Brands from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays reaffirmed a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a research report on Sunday, December 23rd. Credit Suisse Group set a $39.00 price objective on shares of Conagra Brands and gave the stock a “hold” rating in a research report on Thursday, December 20th. Finally, ValuEngine cut shares of Conagra Brands from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.45.
Shares of NYSE:CAG traded up $0.63 during midday trading on Friday, hitting $26.45. The stock had a trading volume of 16,791,887 shares, compared to its average volume of 8,643,518. Conagra Brands has a 12 month low of $20.22 and a 12 month high of $39.43. The company has a current ratio of 1.31, a quick ratio of 0.69 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $12.54 billion, a PE ratio of 12.54, a P/E/G ratio of 1.79 and a beta of 0.74.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue was up 35.7% on a year-over-year basis. On average, equities analysts predict that Conagra Brands will post 2.06 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth $26,000. Princeton Global Asset Management LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth $26,000. 1832 Asset Management L.P. acquired a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Kaizen Advisory LLC lifted its holdings in shares of Conagra Brands by 47.3% during the fourth quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock worth $29,000 after buying an additional 443 shares in the last quarter. Finally, Timber Creek Capital Management LLC lifted its holdings in shares of Conagra Brands by 143.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 1,580 shares of the company’s stock worth $33,000 after buying an additional 930 shares in the last quarter. 83.45% of the stock is owned by hedge funds and other institutional investors.
Conagra Brands Company Profile
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.
Featured Story: How to calculate the annual rate of depreciation
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.