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

Conagra Brands (NYSE:CAG) had its target price reduced by investment analysts at Wells Fargo & Company from $28.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 15.35% from the company’s previous close.

A number of other brokerages have also commented on CAG. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Citigroup cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.00.

Conagra Brands Stock Down 7.4 %

Shares of Conagra Brands stock opened at $23.41 on Tuesday. The stock has a market capitalization of $11.17 billion, a P/E ratio of 22.95, a PEG ratio of 1.70 and a beta of 0.28. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $26.41 and a two-hundred day moving average price of $28.67. Conagra Brands has a 12-month low of $23.88 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data 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 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 analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts expect that Conagra Brands will post 2.46 earnings per share for the current year.

Institutional Trading of Conagra Brands

Several large investors have recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in shares of Conagra Brands during the fourth quarter worth $29,000. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter valued at about $44,000. Institutional investors 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.