Bank of America Cuts Conagra Brands (NYSE:CAG) Price Target to $17.00

by · The Markets Daily

Conagra Brands (NYSE:CAG – Free Report) had its target price lowered by Bank of America from $18.00 to $17.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of Conagra Brands in a report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, December 16th. Jefferies Financial Group cut their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $19.29.

Get Our Latest Research Report on Conagra Brands

Conagra Brands Stock Up 0.3%

Shares of NYSE CAG opened at $17.04 on Monday. The firm’s 50-day moving average is $17.58 and its two-hundred day moving average is $18.85. The company has a market capitalization of $8.15 billion, a PE ratio of -77.43 and a beta of -0.01. Conagra Brands has a 12-month low of $16.60 and a 12-month high of $28.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28.

Conagra Brands (NYSE:CAG – Get Free Report) last posted its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio is -636.36%.

Insider Transactions at Conagra Brands

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Conagra Brands by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock worth $1,256,241,000 after buying an additional 966,031 shares during the last quarter. State Street Corp raised its stake in Conagra Brands by 2.3% during the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after acquiring an additional 588,435 shares during the period. Invesco Ltd. lifted its holdings in Conagra Brands by 25.6% in the third quarter. Invesco Ltd. now owns 15,587,877 shares of the company’s stock worth $285,414,000 after acquiring an additional 3,173,767 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Conagra Brands by 21.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,674,084 shares of the company’s stock valued at $268,672,000 after acquiring an additional 2,618,647 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Conagra Brands by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock valued at $262,405,000 after acquiring an additional 193,829 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

About Conagra Brands

(Get Free Report)

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.

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