Barclays Raises Conagra Brands (NYSE:CAG) Price Target to $29.00

Conagra Brands (NYSE:CAG) had its price target increased by investment analysts at Barclays from $27.00 to $29.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 10.08% from the company’s previous close.

Several other equities analysts have also recently issued reports on CAG. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.90.

Conagra Brands Stock Down 1.3 %

Shares of CAG traded down $0.34 during midday trading on Monday, hitting $26.35. The company had a trading volume of 2,645,419 shares, compared to its average volume of 6,139,603. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.76 and a beta of 0.27. The company’s 50 day moving average price is $25.74 and its 200 day moving average price is $27.40. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Institutional Trading of Conagra Brands

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands during the fourth quarter worth approximately $28,000. Riverview Trust Co acquired a new position in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust lifted its holdings in shares of Conagra Brands by 65.4% in 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. bought a new position in Conagra Brands during the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands during the fourth quarter worth about $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

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.