Wells Fargo & Company Cuts Conagra Brands (NYSE:CAG) Price Target to $27.00

Conagra Brands (NYSE:CAG) had its target price decreased by Wells Fargo & Company from $28.00 to $27.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.78.

Conagra Brands Price Performance

Shares of CAG opened at $24.84 on Tuesday. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28. 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 fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a 50-day simple moving average of $26.20 and a 200-day simple moving average of $28.57.

Conagra Brands (NYSE:CAG) last announced its earnings results 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. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands will post 2.45 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Norges Bank acquired a new position in Conagra Brands in the 4th quarter worth about $168,877,000. Massachusetts Financial Services Co. MA acquired a new stake in Conagra Brands during the 4th quarter worth approximately $110,704,000. Two Sigma Advisers LP increased its holdings in Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Conagra Brands during the third quarter worth about $65,932,000. 83.75% of the stock is owned by institutional investors.

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.