Conagra Brands (NYSE:CAG) PT Lowered to $33.00

Conagra Brands (NYSE:CAG) had its target price reduced by investment analysts at Barclays from $34.00 to $33.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 15.63% from the company’s previous close.

CAG has been the subject of a number of other reports. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday. Evercore ISI dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Citigroup dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

Conagra Brands Price Performance

Shares of CAG traded up $0.16 during mid-day trading on Friday, reaching $28.54. The stock had a trading volume of 2,013,931 shares, compared to its average volume of 4,743,073. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.80 and a beta of 0.32. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $33.60. The business has a fifty day moving average of $29.50 and a 200 day moving average of $29.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Equities analysts predict that Conagra Brands will post 2.62 EPS for the current year.

Insider Activity

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First United Bank & Trust purchased a new position in Conagra Brands in the 4th quarter worth about $26,000. Naples Money Management LLC bought a new position in Conagra Brands during the 4th quarter worth about $26,000. Advantage Trust Co bought a new position in Conagra Brands during the 4th quarter worth about $34,000. Parkside Financial Bank & Trust grew its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after acquiring an additional 454 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.