Conagra Brands (NYSE:CAG)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research note issued to investors on Thursday. They currently have a $44.00 price target on the stock. Jefferies Group’s price target indicates a potential upside of 22.19% from the company’s current price.
The analysts wrote, “CAG’s 3Q EBIT was slightly below consensus & 2018 EBIT guidance was unchanged. Results/guidance is much better than feared especially considering the significant guide down by GIS yesterday. Sales were generally in-line despite greater than expected retailer inventory reductions, which is encouraging. Gross margins were lower than expected driven by higher input costs and growth-related investments both of which we view as transitory. FY18 EPS guidance raised and implies 4Q sales and EBIT above consensus. EPS guidance was raised to a range of $2.03 to $2.05 from a range of $1.95 to $2.02. Sales and margin guidance is unchanged and previous guidance already included the benefit from tax reform. Interest expense is coming in well below initial guidance and points to strong cash flow generation. Relative to consensus, new guidance implies 4Q18 sales 4% above, EBIT 2% above and EPS 18% above.””
A number of other analysts have also recently commented on CAG. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, November 22nd. Stifel Nicolaus boosted their price objective on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. UBS upgraded Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, December 12th. Finally, Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the company a “hold” rating in a research report on Monday, December 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.44.
Shares of Conagra Brands stock traded up $0.67 during mid-day trading on Thursday, reaching $36.01. The company had a trading volume of 1,996,525 shares, compared to its average volume of 3,380,312. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. The stock has a market capitalization of $14,588.06, a PE ratio of 21.50, a P/E/G ratio of 2.30 and a beta of 0.32. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $41.29.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.06. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. Conagra Brands’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. research analysts anticipate that Conagra Brands will post 1.98 EPS for the current year.
In other news, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the sale, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at $1,963,900.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The disclosure for this sale can be found here. Insiders sold 33,670 shares of company stock worth $1,276,868 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Several large investors have recently modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of Conagra Brands by 11.7% in the fourth quarter. Advisor Partners LLC now owns 13,388 shares of the company’s stock worth $506,000 after acquiring an additional 1,399 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in shares of Conagra Brands by 11.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 13,835 shares of the company’s stock worth $521,000 after acquiring an additional 1,400 shares during the last quarter. Commonwealth Equity Services Inc boosted its stake in shares of Conagra Brands by 2.2% in the third quarter. Commonwealth Equity Services Inc now owns 70,357 shares of the company’s stock worth $2,373,000 after acquiring an additional 1,482 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Conagra Brands by 7.0% in the third quarter. Captrust Financial Advisors now owns 23,744 shares of the company’s stock worth $801,000 after acquiring an additional 1,556 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Conagra Brands by 6.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 26,686 shares of the company’s stock worth $1,005,000 after acquiring an additional 1,676 shares during the last quarter. 79.87% of the stock is currently owned by hedge funds and other institutional investors.
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Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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