Stifel Nicolaus Lowers Conagra Brands (NYSE:CAG) Price Target to $21.00

Conagra Brands (NYSE:CAG) had its price objective decreased by investment analysts at Stifel Nicolaus from $26.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.30% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley cut their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday. Wells Fargo & Company lowered their price objective on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on Conagra Brands from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 1st. Bank of America cut Conagra Brands from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, The Goldman Sachs Group cut Conagra Brands from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $22.73.

Conagra Brands Trading Down 0.5%

NYSE CAG opened at $19.39 on Friday. The company has a market cap of $9.26 billion, a PE ratio of 8.11, a PEG ratio of 1.83 and a beta of 0.11. The company has a current ratio of 0.71, a quick ratio of 0.23 and a debt-to-equity ratio of 0.70. Conagra Brands has a 12 month low of $18.82 and a 12 month high of $33.24. The stock has a 50 day moving average of $21.96 and a 200-day moving average of $24.45.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The company had revenue of $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. On average, equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its stake in Conagra Brands by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after buying an additional 429 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its stake in Conagra Brands by 3.2% in the first quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company’s stock valued at $388,000 after buying an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC boosted 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 buying an additional 452 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in Conagra Brands by 1.3% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock valued at $1,030,000 after buying an additional 500 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after buying an additional 505 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

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.