Conagra Brands (NYSE:CAG) Price Target Lowered to $29.00 at Citigroup

Conagra Brands (NYSE:CAG) had its target price cut by Citigroup from $31.00 to $29.00 in a research report sent to investors on Wednesday morning. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on CAG. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six investment 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 company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average target price of $31.50.

Conagra Brands Stock Up 0.4 %

Shares of Conagra Brands stock opened at $28.20 on Wednesday. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.86 and a beta of 0.31. The stock has a 50-day simple moving average of $28.40 and a 200-day simple moving average of $29.59. Conagra Brands has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, equities research analysts expect that Conagra Brands will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.97%. Conagra Brands’s dividend payout ratio is 135.92%.

Hedge Funds Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new stake in Conagra Brands in the 2nd quarter worth $25,000. Innealta Capital LLC bought a new stake in shares of Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC grew its position in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the third quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands in the 3rd quarter valued at approximately $59,000. Institutional investors own 83.75% of the company’s stock.

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.