Conagra Brands (NYSE:CAG) Earns Equal Weight Rating from Analysts at Morgan Stanley

Analysts at Morgan Stanley initiated coverage on shares of Conagra Brands (NYSE:CAG) in a report issued on Monday,Benzinga reports. The brokerage set an “equal weight” rating and a $27.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 5.28% from the company’s previous close.

Several other analysts have also weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.20.

Conagra Brands Trading Down 1.0 %

Shares of CAG stock opened at $25.65 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The stock has a fifty day moving average of $25.62 and a two-hundred day moving average of $27.83. The firm has a market capitalization of $12.24 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co acquired a new position in Conagra Brands during the fourth quarter valued at $29,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new position in Conagra Brands during the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands in the 4th quarter worth about $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.