Conagra Brands (NYSE:CAG) Price Target Cut to $26.00 by Analysts at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its price objective cut by Stifel Nicolaus from $28.00 to $26.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. cut their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $29.78.

Conagra Brands Trading Up 1.5 %

Shares of CAG stock opened at $24.27 on Wednesday. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The stock’s fifty day moving average price is $26.26 and its two-hundred day moving average price is $28.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market cap of $11.58 billion, a PE ratio of 23.79, a P/E/G ratio of 1.72 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Equities analysts predict that Conagra Brands will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Institutional Trading of Conagra Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co acquired a new stake in Conagra Brands during the 4th quarter worth about $29,000. Grove Bank & Trust raised its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Conagra Brands during the 4th quarter valued at about $44,000. Institutional investors and hedge funds 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.