Conagra Brands (NYSE:CAG) Receives $15.80 Average Target Price from Analysts

Shares of Conagra Brands (NYSE:CAG) have earned a consensus rating of “Reduce” from the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.80.

Several analysts recently issued reports on the company. UBS Group dropped their target price on Conagra Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Sanford C. Bernstein reduced their price target on Conagra Brands from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, April 2nd. The Goldman Sachs Group dropped their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, April 2nd. Finally, BNP Paribas Exane cut shares of Conagra Brands from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $16.00 in a research report on Thursday, April 9th.

Insider Transactions at Conagra Brands

In other Conagra Brands news, Director John J. Mulligan bought 17,500 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were purchased at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director directly owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Lenny bought 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc grew its holdings in shares of 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 position in Conagra Brands in the second quarter valued at about $26,000. Harbour Investments Inc. raised its stake in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares in the last quarter. True Wealth Design LLC lifted its position in Conagra Brands by 844.4% during the third 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 during the period. Finally, MUFG Securities EMEA plc acquired a new stake in Conagra Brands during the second quarter worth about $29,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

CAG opened at $14.13 on Friday. The stock has a market cap of $6.76 billion, a P/E ratio of -141.24 and a beta of 0.04. Conagra Brands has a 12 month low of $14.04 and a 12 month high of $24.80. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $17.28.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a yield of 9.9%. Conagra Brands’s payout ratio is currently -1,400.00%.

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.