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

Conagra Brands (NYSE:CAG) had its price target decreased by investment analysts at Citigroup from $31.00 to $29.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 3.98% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $31.50.

Conagra Brands Trading Up 0.2 %

CAG traded up $0.05 during trading on Wednesday, reaching $27.89. 1,485,261 shares of the company’s stock were exchanged, compared to its average volume of 4,758,448. The company’s fifty day moving average price is $28.50 and its 200-day moving average price is $29.63. The firm has a market capitalization of $13.31 billion, a PE ratio of 27.10, a P/E/G ratio of 2.80 and a beta of 0.31. Conagra Brands has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

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 the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Conagra Brands will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Conagra Brands

Institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its holdings in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after acquiring an additional 19,329 shares in the last quarter. Aigen Investment Management LP acquired a new position in Conagra Brands in the third quarter valued at about $1,020,000. Pacer Advisors Inc. raised its stake in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Conagra Brands during the third quarter worth about $3,829,000. Finally, Swedbank AB grew its stake in Conagra Brands by 3.1% during the third 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. 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.