Conagra Brands, Inc. (NYSE:CAG) Given Consensus Rating of “Hold” by Brokerages

Conagra Brands, Inc. (NYSE:CAG) has been given an average rating of “Hold” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Seven 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 12 month price target among analysts that have issued a report on the stock in the last year is $30.56.

Several equities research analysts have issued reports on CAG shares. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Bank of America lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $27.65 on Friday. The business’s fifty day moving average price is $27.81 and its 200 day moving average price is $29.41. Conagra Brands has a twelve month low of $26.21 and a twelve month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.20 billion, a P/E ratio of 26.84, a PEG ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released 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. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. As a group, research analysts anticipate that Conagra Brands will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.06%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Hedge Funds Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at about $47,000. Kennebec Savings Bank bought a new position in shares of Conagra Brands during the third quarter worth about $59,000. Quarry LP grew its stake in Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Conagra Brands by 27,057.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock valued at $62,000 after buying an additional 1,894 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.