Conagra Brands (NYSE:CAG) Given New $19.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Conagra Brands (NYSE:CAG – Get Free Report) had its price target cut by equities research analysts at Wells Fargo & Company from $20.00 to $19.00 in a research report issued on Friday,MarketScreener reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.27% from the company’s current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. UBS Group dropped their price target on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of Conagra Brands in a research note on Thursday, October 2nd. Morgan Stanley raised their price objective on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and a consensus price target of $20.33.

View Our Latest Research Report on CAG

Conagra Brands Trading Up 0.6%

Shares of NYSE:CAG opened at $17.71 on Friday. The business’s 50 day moving average price is $17.77 and its 200-day moving average price is $19.19. Conagra Brands has a 1 year low of $16.60 and a 1 year high of $28.51. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 10.07 and a beta of -0.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

Conagra Brands (NYSE:CAG – Get Free Report) last posted its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total transaction of $223,659.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Conagra Brands in the second quarter valued at approximately $2,489,000. Y Intercept Hong Kong Ltd purchased a new position in Conagra Brands in the 2nd quarter valued at approximately $10,465,000. Hsbc Holdings PLC grew its stake in shares of Conagra Brands by 20.0% in the second quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after acquiring an additional 208,450 shares in the last quarter. Triton Financial Group Inc purchased a new stake in shares of Conagra Brands during the second quarter worth $690,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Conagra Brands during the second quarter worth $356,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

About Conagra Brands

(Get Free Report)

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.

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