Analysts Set Conagra Brands (NYSE:CAG) Price Target at $25.36

Shares of Conagra Brands (NYSE:CAG) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.82.

A number of equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Conagra Brands from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price objective on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, June 2nd. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, Barclays decreased their target price on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands in the 1st quarter worth about $26,000. Capital Advisors Ltd. LLC grew its holdings in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after purchasing an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its holdings in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 741 shares during the last quarter. Finally, Riverview Trust Co bought a new stake 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.

Conagra Brands Stock Performance

Shares of CAG stock opened at $21.00 on Friday. The company has a market capitalization of $10.02 billion, a P/E ratio of 30.88, a PEG ratio of 1.57 and a beta of 0.11. Conagra Brands has a fifty-two week low of $20.26 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. The stock has a 50 day moving average price of $22.44 and a two-hundred day moving average price of $24.77.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. Analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

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.