Brokerages Set Conagra Brands, Inc. (NYSE:CAG) PT at $28.33

Shares of Conagra Brands, Inc. (NYSE:CAG) have received an average rating of “Hold” from the ten research firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.33.

A number of equities analysts have weighed in on CAG shares. Bank of America reduced 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 report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company 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 decreased their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd.

Conagra Brands Stock Performance

NYSE CAG opened at $25.65 on Friday. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.76 and a beta of 0.18. The stock has a 50-day moving average of $25.62 and a 200 day moving average of $27.83. 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 has a twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Norges Bank purchased a new position in Conagra Brands during the fourth quarter worth about $168,877,000. Massachusetts Financial Services Co. MA acquired a new position in Conagra Brands in the 4th quarter valued at about $110,704,000. Two Sigma Advisers LP grew its stake in shares of Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after buying an additional 3,133,200 shares during the period. Finally, Holocene Advisors LP purchased a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $65,932,000. Institutional investors and hedge funds 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.