UBS Group Lowers Conagra Brands (NYSE:CAG) Price Target to $20.00

Conagra Brands (NYSE:CAG) had its price objective cut by investment analysts at UBS Group from $21.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 3.15% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank Of Canada dropped their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday. The Goldman Sachs Group downgraded shares of Conagra Brands from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $26.00 to $21.00 in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. dropped 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.73.

Conagra Brands Stock Down 0.5%

Shares of Conagra Brands stock opened at $19.39 on Friday. 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 company has a 50-day moving average of $21.96 and a 200 day moving average of $24.45. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.83 and a beta of 0.11. Conagra Brands has a 1 year low of $18.82 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share 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 firm had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CAG. Norges Bank bought a new position in Conagra Brands during the fourth quarter valued at $168,877,000. Ameriprise Financial Inc. increased its position in Conagra Brands by 233.7% during the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after acquiring an additional 4,191,555 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Conagra Brands during the fourth quarter valued at $110,704,000. Dimensional Fund Advisors LP boosted its stake in shares of Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock valued at $217,686,000 after purchasing an additional 2,702,407 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of Conagra Brands by 33.9% during the fourth quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock valued at $225,746,000 after purchasing an additional 2,058,000 shares during the period. Institutional investors 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.