Conagra Brands (NYSE:CAG) Downgraded to “Strong Sell” Rating by Sanford C. Bernstein

Sanford C. Bernstein lowered shares of Conagra Brands (NYSE:CAG) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on CAG. Wall Street Zen raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Barclays cut their target price on shares of Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings cut shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. The Goldman Sachs Group cut their target price on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada cut their target price on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Conagra Brands has an average rating of “Reduce” and a consensus target price of $15.00.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $12.58 on Wednesday. The firm has a fifty day moving average price of $14.38 and a 200-day moving average price of $16.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The stock has a market cap of $6.02 billion, a PE ratio of -125.74 and a beta of -0.02. Conagra Brands has a 1 year low of $12.55 and a 1 year high of $22.81.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. Equities analysts anticipate that Conagra Brands will post 1.7 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Thursday, April 30th. Conagra Brands’s dividend payout ratio (DPR) is presently -1,400.00%.

Insider Activity

In other news, Director John J. Mulligan purchased 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Lenny purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently made changes to their positions in the company. WealthPlan Investment Management LLC raised its stake in Conagra Brands by 5.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after buying an additional 548 shares in the last quarter. International Private Wealth Advisors LLC boosted its position in Conagra Brands by 4.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock valued at $228,000 after acquiring an additional 609 shares in the last quarter. All Terrain Financial Advisors LLC boosted its position in Conagra Brands by 0.3% during the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after acquiring an additional 609 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Conagra Brands by 0.5% in the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock valued at $2,494,000 after acquiring an additional 633 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its holdings in shares of Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after acquiring an additional 701 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

About Conagra Brands

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.