Citigroup Lowers Conagra Brands (NYSE:CAG) Price Target to $30.00

Conagra Brands (NYSE:CAG) had its target price trimmed by Citigroup from $32.00 to $30.00 in a report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on CAG. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an equal weight rating in a report on Friday, April 5th. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a hold rating in a report on Friday, April 5th. Finally, Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an overweight rating in a report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $33.00.

Conagra Brands Stock Down 0.4 %

Shares of Conagra Brands stock opened at $28.30 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands has a 1 year low of $25.16 and a 1 year high of $34.38. The firm’s 50-day moving average is $29.93 and its two-hundred day moving average is $29.25. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.76 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts expect that Conagra Brands will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Monday, April 29th. Conagra Brands’s payout ratio is currently 70.35%.

Insider Activity at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Conagra Brands

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $140,473,000. American Century Companies Inc. increased its holdings in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Conagra Brands during the 1st quarter valued at approximately $47,980,000. Federated Hermes Inc. increased its holdings in shares of Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $36,069,000. 83.75% of the stock is 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.