Conagra Brands (NYSE:CAG) Given New $15.00 Price Target at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its price target trimmed by Stifel Nicolaus from $17.00 to $15.00 in a research report sent to investors on Tuesday, Marketbeat reports. The firm currently has a hold rating on the stock.

CAG has been the topic of several other reports. UBS Group cut their price objective on shares of Conagra Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. BTIG Research assumed coverage on shares of Conagra Brands in a report on Monday, April 13th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Morgan Stanley cut their price objective on shares of Conagra Brands from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $15.93.

Conagra Brands Price Performance

NYSE:CAG opened at $14.68 on Tuesday. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -146.74 and a beta of 0.04. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average is $16.86 and its two-hundred day moving average is $17.40. Conagra Brands has a 12-month low of $14.04 and a 12-month high of $25.77.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. Conagra Brands’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. Research analysts expect that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Thursday, April 30th. Conagra Brands’s dividend payout ratio is -1,400.00%.

Insider Buying and Selling

In other Conagra Brands news, Director Richard H. Lenny bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director owned 229,340 shares in the company, valued at $3,288,735.60. This trade represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John J. Mulligan bought 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, with a total value of $250,425.00. Following the transaction, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This represents a 542.13% increase in their position. The SEC filing for this purchase provides additional information. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Conagra Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Bell Investment Advisors Inc increased its position in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after purchasing an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands during the 2nd quarter worth approximately $26,000. Harbour Investments Inc. increased its position in Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares in the last quarter. True Wealth Design LLC increased its position in Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after purchasing an additional 1,427 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Conagra Brands in the second quarter valued at approximately $29,000. 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.