Conagra Brands, Inc. (NYSE:CAG) Receives $30.33 Consensus Price Target from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have received a consensus rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.33.

CAG has been the subject of several recent research reports. Wells Fargo & Company decreased their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Barclays decreased their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Citigroup decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $25.10 on Thursday. The firm’s 50-day moving average price is $26.83 and its 200-day moving average price is $28.96. Conagra Brands has a 1-year low of $24.85 and a 1-year high of $33.24. The firm has a market capitalization of $11.98 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 137.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB boosted its stake in Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after acquiring an additional 618,096 shares during the last quarter. Geode Capital Management LLC boosted its stake in Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after acquiring an additional 196,100 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Conagra Brands by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after acquiring an additional 122,590 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.