Conagra Brands (NYSE:CAG) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of Conagra Brands (NYSE:CAG) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued a neutral rating and a $22.00 price target on the stock.

CAG has been the topic of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their price target on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.36.

Conagra Brands Trading Up 0.1%

Conagra Brands stock opened at $21.59 on Monday. The stock has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $25.34. The stock has a market capitalization of $10.31 billion, a P/E ratio of 21.17, a PEG ratio of 1.76 and a beta of 0.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands has a 52 week low of $21.18 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were given a $0.35 dividend. The ex-dividend date was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.48%. Conagra Brands’s payout ratio is 205.88%.

Institutional Investors Weigh In On Conagra Brands

Large investors have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new position in Conagra Brands in the 1st quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands in the first quarter worth $27,000. Capital Advisors Ltd. LLC raised its stake in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after purchasing an additional 452 shares in the last quarter. Riverview Trust Co bought a new stake in Conagra Brands during the fourth quarter worth about $29,000. Finally, Golden State Wealth Management LLC lifted its position in Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock worth $28,000 after purchasing an additional 741 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.