Conagra Brands, Inc. (NYSE:CAG) Receives Average Recommendation of “Hold” from Analysts

Shares of Conagra Brands, Inc. (NYSE:CAG) have received a consensus rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.20.

A number of research firms have commented on CAG. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday. They issued an “equal weight” rating and a $27.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note 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 for the company in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Bessemer Group Inc. increased its holdings in Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after purchasing an additional 429 shares during the last quarter. Grove Bank & Trust boosted its position 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 buying an additional 447 shares during the period. Summit Financial Wealth Advisors LLC boosted its position in shares of Conagra Brands by 1.3% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after buying an additional 500 shares during the period. CIBC Asset Management Inc grew its stake in shares of Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after buying an additional 505 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $26.50 on Friday. The firm has a 50-day simple moving average of $25.62 and a 200-day simple moving average of $27.71. 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 market capitalization of $12.65 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands has a 52 week low of $23.06 and a 52 week high of $33.24.

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.