Conagra Brands (NYSE:CAG) Receives Average Rating of “Reduce” from Analysts

Conagra Brands (NYSE:CAG) has been given an average rating of “Reduce” by the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.2857.

A number of equities analysts recently commented on the company. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. UBS Group restated a “neutral” rating and issued a $20.00 target price on shares of Conagra Brands in a report on Friday, February 13th. Evercore reduced their price target on Conagra Brands from $22.00 to $19.00 in a report on Friday, January 9th. 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 research report on Thursday, March 12th. Finally, TD Cowen reissued a “hold” rating on shares of Conagra Brands in a report on Monday, December 22nd.

Institutional Trading of Conagra Brands

Several hedge funds have recently made changes to their positions in CAG. State Street Corp increased its holdings in shares of Conagra Brands by 2.3% during the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after buying an additional 588,435 shares during the last quarter. Invesco Ltd. lifted its holdings in Conagra Brands by 13.3% in the fourth quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock valued at $305,829,000 after acquiring an additional 2,079,903 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Conagra Brands by 20.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,622,165 shares of the company’s stock worth $305,044,000 after acquiring an additional 2,948,081 shares during the period. Morgan Stanley grew its position in Conagra Brands by 18.5% in the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock worth $263,624,000 after acquiring an additional 2,376,823 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Conagra Brands by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock worth $222,113,000 after acquiring an additional 1,984,873 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.6%

Shares of Conagra Brands stock opened at $15.72 on Tuesday. 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 stock’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $17.80. The stock has a market cap of $7.52 billion, a P/E ratio of -71.45 and a beta of -0.02. Conagra Brands has a 1-year low of $15.03 and a 1-year high of $27.68.

Conagra Brands Company Profile

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.