Stifel Nicolaus upgraded shares of Conagra Brands Inc. (NYSE:CAG) from a hold rating to a buy rating in a research note issued to investors on Sunday, October 29th, Marketbeat.com reports. The firm currently has $38.00 price target on the stock, up from their prior price target of $36.00. The analysts noted that the move was a valuation call.
A number of other equities analysts also recently weighed in on CAG. BidaskClub downgraded shares of Conagra Brands from a sell rating to a strong sell rating in a research note on Saturday, August 26th. Morgan Stanley cut their price target on shares of Conagra Brands from $42.00 to $40.00 and set an overweight rating on the stock in a research note on Monday, September 25th. Credit Suisse Group cut their target price on shares of Conagra Brands from $39.00 to $37.00 and set a neutral rating on the stock in a research note on Monday, September 25th. Jefferies Group LLC reissued a buy rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Conagra Brands from a sell rating to a hold rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Conagra Brands currently has an average rating of Hold and an average target price of $40.03.
Conagra Brands (CAG) opened at $35.87 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. Conagra Brands has a 1 year low of $32.16 and a 1 year high of $41.68. The firm has a market cap of $14,232.07, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.32.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. equities analysts anticipate that Conagra Brands will post 1.89 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be paid a $0.2125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.85 annualized dividend and a dividend yield of 2.37%. Conagra Brands’s dividend payout ratio is currently 60.28%.
In other news, EVP Colleen Batcheler sold 133,869 shares of Conagra Brands stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $34.28, for a total value of $4,589,029.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.79% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Sun Life Financial INC grew its position in Conagra Brands by 32,666.7% during the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after purchasing an additional 2,940 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Conagra Brands in the first quarter valued at approximately $110,000. Bronfman E.L. Rothschild L.P. lifted its stake in Conagra Brands by 143.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after acquiring an additional 1,851 shares during the last quarter. Alpha Windward LLC lifted its stake in Conagra Brands by 5.8% in the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock valued at $128,000 after acquiring an additional 196 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Conagra Brands by 53.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock valued at $137,000 after acquiring an additional 1,333 shares during the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
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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