Barclays Raises Conagra Brands (NYSE:CAG) Price Target to $29.00

Conagra Brands (NYSE:CAG) had its target price lifted by investment analysts at Barclays from $27.00 to $29.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 15.88% from the stock’s previous close.

CAG has been the topic of a number of other reports. 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. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Stifel Nicolaus cut their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley started coverage on shares of Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $27.90.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $25.03 on Monday. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The firm has a market cap of $11.94 billion, a P/E ratio of 24.53, a PEG ratio of 1.76 and a beta of 0.27. The stock has a fifty day moving average price of $25.70 and a two-hundred day moving average price of $27.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 4.13% and a return on equity of 13.76%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Trading of Conagra Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in shares of Conagra Brands by 386.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 17,073 shares of the company’s stock valued at $555,000 after buying an additional 13,560 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Conagra Brands by 110.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares in the last quarter. Quarry LP lifted its stake in shares of Conagra Brands by 229.7% in the 3rd quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after purchasing an additional 1,268 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Conagra Brands during the third quarter worth $414,000. Finally, Wellington Management Group LLP raised its holdings in Conagra Brands by 70.1% during the third quarter. Wellington Management Group LLP now owns 73,291 shares of the company’s stock valued at $2,383,000 after buying an additional 30,215 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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.