Barclays Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its target price cut by Barclays from $33.00 to $32.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

CAG has been the subject of a number of other research reports. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Citigroup lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.75.

Conagra Brands Trading Up 0.4 %

NYSE:CAG opened at $27.64 on Monday. The company has a market cap of $13.19 billion, a PE ratio of 26.83, a P/E/G ratio of 2.91 and a beta of 0.31. The business’s 50 day moving average is $28.09 and its two-hundred day moving average is $29.47. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands has a 52 week low of $26.21 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm 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 13.71% and a net margin of 4.14%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. On average, analysts predict that Conagra Brands will post 2.58 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.07%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAG. Integrated Wealth Concepts LLC increased its holdings in shares of Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares during the period. Aigen Investment Management LP acquired a new position in Conagra Brands during the 3rd quarter valued at about $1,020,000. Pacer Advisors Inc. increased its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares during the period. Swedbank AB raised its position in shares of Conagra Brands by 3.1% during the 3rd quarter. Swedbank AB now owns 674,465 shares of the company’s stock worth $21,934,000 after buying an additional 20,384 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $967,000. 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.