Conagra Brands (NYSE:CAG) Given New $23.00 Price Target at Evercore ISI

Conagra Brands (NYSE:CAG) had its price objective lowered by Evercore ISI from $24.00 to $23.00 in a research note released on Wednesday, MarketBeat reports. The firm currently has an in-line rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group cut their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. began coverage on Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price target for the company. Bank of America downgraded Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Royal Bank Of Canada lowered their price objective on Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Friday, July 11th. Finally, Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $22.08.

Conagra Brands Trading Up 1.8%

CAG stock opened at $18.53 on Wednesday. Conagra Brands has a one year low of $18.12 and a one year high of $32.90. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 1.74 and a beta of 0.07. The company has a fifty day moving average price of $19.06 and a two-hundred day moving average price of $21.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24.

Conagra Brands (NYSE:CAG) last posted 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). The company 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. Equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Wednesday, July 30th. Conagra Brands’s dividend payout ratio is 58.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpine Bank Wealth Management bought a new stake in Conagra Brands during the first quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Conagra Brands in the first quarter valued at about $27,000. Capital Advisors Ltd. LLC grew its position 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 acquiring an additional 452 shares during the last quarter. Golden State Wealth Management LLC raised its stake 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 acquiring an additional 741 shares in the last quarter. Finally, Quaker Wealth Management LLC raised its stake in Conagra Brands by 202.3% during the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after acquiring an additional 2,427 shares in the last quarter. Institutional investors and hedge funds 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.