Conagra Brands (NYSE:CAG) Given New $26.00 Price Target at Barclays

Conagra Brands (NYSE:CAG) had its target price cut by research analysts at Barclays from $29.00 to $26.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 12.14% from the company’s previous close.

A number of other equities analysts have also weighed in on CAG. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Morgan Stanley started coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.50.

Conagra Brands Price Performance

Shares of NYSE CAG traded up $0.10 during midday trading on Monday, reaching $23.19. The stock had a trading volume of 1,642,728 shares, compared to its average volume of 5,215,845. The stock has a 50-day moving average of $25.44 and a 200-day moving average of $26.33. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands has a 12-month low of $22.78 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. As a group, research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Alpine Bank Wealth Management purchased a new position in Conagra Brands during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Conagra Brands in the 1st quarter worth approximately $27,000. Capital Advisors Ltd. LLC grew its position in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after buying an additional 452 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors 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.