Morgan Stanley Has Lowered Expectations for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price objective lowered by stock analysts at Morgan Stanley from $22.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 3.15% from the company’s current price.

Other research analysts have also issued research reports about the company. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Thursday, June 12th. The Goldman Sachs Group lowered Conagra Brands from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $26.00 to $21.00 in a report on Monday, June 9th. Wells Fargo & Company decreased their price objective on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Finally, Barclays decreased their price objective on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.73.

Conagra Brands Trading Down 0.5%

Shares of NYSE:CAG opened at $19.39 on Friday. Conagra Brands has a 1 year low of $18.82 and a 1 year high of $33.24. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.83 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.23. The business’s 50 day moving average price is $21.96 and its 200-day moving average price is $24.45.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2,781,800 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business earned $0.61 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands during the 1st quarter worth about $26,000. Capital Advisors Ltd. LLC increased its position in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after purchasing an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Conagra Brands during the 1st quarter worth about $27,000. Golden State Wealth Management LLC increased its position in shares of Conagra Brands by 235.2% during the 1st 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 last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Conagra Brands during the 1st quarter worth about $34,000. 83.75% of the stock is owned by institutional investors and hedge funds.

About Conagra Brands

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.