Shares of Conagra Brands, Inc. (NYSE:CAG – Get Rating) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $35.67.
CAG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Citigroup reduced their price target on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Morgan Stanley cut their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Credit Suisse Group cut their target price on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Finally, UBS Group raised their target price on Conagra Brands from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, July 8th.
Insiders Place Their Bets
In other Conagra Brands news, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total transaction of $757,737.00. Following the transaction, the chief operating officer now owns 104,859 shares of the company’s stock, valued at $3,712,008.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Emanuel Chirico bought 30,000 shares of the stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $34.06 per share, for a total transaction of $1,021,800.00. Following the purchase, the director now owns 40,788 shares of the company’s stock, valued at approximately $1,389,239.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the transaction, the chief operating officer now owns 104,859 shares in the company, valued at $3,712,008.60. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Conagra Brands Price Performance
CAG stock opened at $34.37 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. The firm has a market capitalization of $16.50 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.04 and a beta of 0.57. The business’s 50-day moving average is $34.48 and its two-hundred day moving average is $33.95. Conagra Brands has a 1 year low of $30.06 and a 1 year high of $36.97.
Conagra Brands (NYSE:CAG – Get Rating) last posted its quarterly earnings results on Thursday, July 14th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. Conagra Brands’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Analysts anticipate that Conagra Brands will post 2.41 earnings per share for the current fiscal year.
Conagra Brands Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 3rd were given a dividend of $0.33 per share. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.32 annualized dividend and a yield of 3.84%. Conagra Brands’s payout ratio is 71.74%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.
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