Deutsche Bank Aktiengesellschaft Cuts Conagra Brands (NYSE:CAG) Price Target to $14.00

Conagra Brands (NYSE:CAG) had its price objective lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $18.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 11.69% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. Royal Bank Of Canada dropped their price objective on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. Evercore cut their target price on Conagra Brands from $22.00 to $19.00 in a research note on Friday, January 9th. Finally, Jefferies Financial Group cut their price target on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average price target of $18.29.

Conagra Brands Stock Up 1.5%

Shares of NYSE CAG traded up $0.23 during trading hours on Monday, hitting $15.85. The company had a trading volume of 5,857,906 shares, compared to its average volume of 14,039,075. Conagra Brands has a 1-year low of $15.03 and a 1-year high of $27.68. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $17.93 and its 200-day moving average is $17.82. The stock has a market capitalization of $7.58 billion, a P/E ratio of -71.89 and a beta of -0.02.

Hedge Funds Weigh In On Conagra Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in CAG. State Street Corp increased its position in Conagra Brands by 2.3% during the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after purchasing an additional 588,435 shares during the period. Invesco Ltd. lifted its position in shares of Conagra Brands by 13.3% in the 4th quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after purchasing an additional 2,079,903 shares during the period. Dimensional Fund Advisors LP increased its holdings in Conagra Brands by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,622,165 shares of the company’s stock valued at $305,044,000 after buying an additional 2,948,081 shares during the period. Morgan Stanley raised its stake in Conagra Brands by 18.5% in the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock worth $263,624,000 after buying an additional 2,376,823 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock worth $222,113,000 after buying an additional 1,984,873 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.