Conagra Brands (NYSE:CAG) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Conagra Brands (NYSE:CAG) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $27.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock 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 cut their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. cut their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $28.20.

Conagra Brands Stock Up 0.3 %

Conagra Brands stock opened at $25.76 on Monday. The business has a fifty day moving average price of $25.61 and a 200-day moving average price of $27.78. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brookstone Capital Management grew its position in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after purchasing an additional 62,187 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after buying an additional 19,329 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock worth $2,175,000 after buying an additional 22,790 shares during the last quarter. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares during the period. Finally, Sound Income Strategies LLC raised its position in Conagra Brands by 13.2% during the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company’s stock valued at $3,756,000 after acquiring an additional 15,834 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

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.