Conagra Brands, Inc. (NYSE:CAG) Receives $33.14 Average PT from Analysts

Conagra Brands, Inc. (NYSE:CAG) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $33.14.

Several research firms have recently weighed in on CAG. Barclays increased their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Citigroup raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company boosted their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. First United Bank & Trust purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $26,000. Naples Money Management LLC purchased a new position in Conagra Brands during the 4th quarter worth $26,000. Thompson Investment Management Inc. grew its stake in shares of Conagra Brands by 100.0% in the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in shares of Conagra Brands in the third quarter valued at about $33,000. Finally, Advantage Trust Co bought a new position in shares of Conagra Brands during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 1.3 %

Shares of NYSE:CAG opened at $30.19 on Tuesday. The firm has a market cap of $14.43 billion, a P/E ratio of 15.17, a P/E/G ratio of 3.07 and a beta of 0.38. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $38.04. The business has a fifty day simple moving average of $29.54 and a 200 day simple moving average of $28.83. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. Analysts predict that Conagra Brands will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.64%. Conagra Brands’s dividend payout ratio is presently 70.35%.

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.