Conagra Brands (NYSE:CAG) Given Average Recommendation of “Hold” by Brokerages

Conagra Brands (NYSE:CAG) has earned an average rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.1667.

A number of brokerages have recently weighed in on CAG. Evercore ISI cut their target price on Conagra Brands from $26.00 to $24.00 and set an “in-line” rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company reduced their price objective on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. The Goldman Sachs Group lowered Conagra Brands from a “neutral” rating to a “sell” rating and decreased their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a “market perform” rating in a research note on Friday, July 11th. Finally, Morgan Stanley reduced their price target on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently modified their holdings of CAG. Quaker Wealth Management LLC increased its holdings in shares of Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after purchasing an additional 2,427 shares during the period. Alpine Bank Wealth Management purchased a new position in Conagra Brands during the first quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the 2nd quarter worth about $26,000. Capital Advisors Ltd. LLC raised its holdings in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 452 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Conagra Brands during the 1st quarter valued at about $27,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.5%

Shares of Conagra Brands stock opened at $19.46 on Friday. The stock has a 50 day moving average price of $19.27 and a two-hundred day moving average price of $22.41. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The stock has a market capitalization of $9.32 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 1.85 and a beta of 0.07.

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 the consensus estimate of $0.61 by ($0.05). The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.2%. Conagra Brands’s dividend payout ratio (DPR) is presently 58.58%.

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.