Conagra Brands, Inc. (NYSE:CAG) Receives $35.67 Consensus Price Target from Brokerages

Shares of Conagra Brands, Inc. (NYSE:CAGGet 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

Several hedge funds and other institutional investors have recently modified their holdings of CAG. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Conagra Brands by 1.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,980 shares of the company’s stock valued at $1,006,000 after buying an additional 292 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Conagra Brands by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,518 shares of the company’s stock valued at $1,113,000 after buying an additional 292 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of Conagra Brands by 3.7% in the second quarter. Fortitude Advisory Group L.L.C. now owns 8,265 shares of the company’s stock valued at $283,000 after buying an additional 298 shares in the last quarter. Resources Investment Advisors LLC. boosted its stake in shares of Conagra Brands by 0.4% in the first quarter. Resources Investment Advisors LLC. now owns 74,085 shares of the company’s stock valued at $2,487,000 after buying an additional 305 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Conagra Brands by 2.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 16,409 shares of the company’s stock valued at $562,000 after buying an additional 325 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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:CAGGet 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

(Get Rating)

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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