JPMorgan Chase & Co. Cuts Conagra Brands (NYSE:CAG) Price Target to $26.00

Conagra Brands (NYSE:CAG) had its price objective lowered by JPMorgan Chase & Co. from $29.00 to $26.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America dropped 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. Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.33.

Conagra Brands Stock Up 4.9 %

NYSE:CAG opened at $27.25 on Thursday. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.76 and a beta of 0.18. 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 stock’s fifty day moving average price is $25.82 and its two-hundred day moving average price is $28.21. Conagra Brands has a 52-week low of $23.06 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) 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 analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 earnings per share. On average, analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.14%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.25%.

Institutional Inflows and Outflows

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