Conagra Brands (NYSE:CAG) Price Target Cut to $33.00

Conagra Brands (NYSE:CAG) had its price objective cut by stock analysts at Bank of America from $34.00 to $33.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 11.81% from the stock’s current price.

Several other brokerages also recently weighed in on CAG. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday. Stifel Nicolaus cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company cut 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 note on Wednesday, July 10th. Citigroup lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, Evercore ISI lowered their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $31.00.

Conagra Brands Trading Up 0.6 %

NYSE:CAG opened at $29.52 on Thursday. The company has a market capitalization of $14.11 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands has a 52-week low of $25.16 and a 52-week high of $33.24. The stock has a fifty day simple moving average of $31.29 and a 200-day simple moving average of $30.26.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Conagra Brands

A number of institutional investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Conagra Brands by 237.9% in the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after acquiring an additional 54,195 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Conagra Brands by 663.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock worth $12,516,000 after acquiring an additional 379,473 shares during the period. SG Americas Securities LLC boosted its holdings in Conagra Brands by 261.3% in the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after acquiring an additional 106,368 shares during the period. M&G Plc purchased a new position in Conagra Brands in the 1st quarter worth approximately $7,429,000. Finally, UniSuper Management Pty Ltd boosted its holdings in Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after acquiring an additional 32,396 shares during the period. 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.