JPMorgan Chase & Co. Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $19.00 to $17.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.17% from the stock’s previous close.

A number of other research firms have also recently commented on CAG. Wells Fargo & Company reissued an “underweight” rating and set a $15.00 price target (down from $20.00) on shares of Conagra Brands in a report on Thursday, March 12th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Stifel Nicolaus decreased their target price on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Wall Street Zen raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Royal Bank Of Canada dropped their target price on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $18.57.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $15.16 on Friday. Conagra Brands has a 1 year low of $15.06 and a 1 year high of $27.68. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -68.89 and a beta of -0.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The company’s 50 day simple moving average is $18.08 and its 200 day simple moving average is $17.97.

Conagra Brands (NYSE:CAG) last released its earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, research analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Hedge funds have recently modified their holdings of the business. WealthPlan Investment Management LLC raised its position in Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after purchasing an additional 548 shares during the last quarter. Sutton Place Investors LLC lifted its holdings in Conagra Brands by 1.9% during the 3rd quarter. Sutton Place Investors LLC now owns 31,196 shares of the company’s stock worth $571,000 after buying an additional 585 shares during the period. International Private Wealth Advisors LLC grew its position in shares of Conagra Brands by 4.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock valued at $228,000 after buying an additional 609 shares during the last quarter. All Terrain Financial Advisors LLC grew its position in shares of Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after buying an additional 609 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Conagra Brands by 0.5% in the third quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock valued at $2,494,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.