Conagra Brands (NYSE:CAG) Rating Increased to Strong-Buy at BNP Paribas

by · The Cerbat Gem

BNP Paribas upgraded shares of Conagra Brands (NYSE:CAG – Free Report) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Barclays cut their target price on shares of Conagra Brands from $34.00 to $33.00 and set an overweight rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a buy rating and a $36.00 price objective for the company. Bank of America dropped their target price on Conagra Brands from $34.00 to $33.00 and set a neutral rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their price target on Conagra Brands from $32.00 to $30.00 and set a hold rating for the company in a research report on Friday, July 12th. Finally, Evercore ISI dropped their price objective on Conagra Brands from $32.00 to $31.00 and set a neutral rating on the stock in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of Hold and an average target price of $31.33.

Check Out Our Latest Stock Report on Conagra Brands

Conagra Brands Trading Up 0.5 %

Shares of CAG stock opened at $29.51 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $14.11 billion, a P/E ratio of 40.42, a PEG ratio of 2.95 and a beta of 0.32. The company has a 50 day moving average of $31.28 and a 200-day moving average of $30.28. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG – Get Free Report) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Conagra Brands will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.74%. Conagra Brands’s payout ratio is currently 191.78%.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Conagra Brands

A number of large investors have recently modified their holdings of CAG. Chilton Capital Management LLC bought a new position in shares of Conagra Brands during the second quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the 2nd quarter worth approximately $25,000. Whittier Trust Co. lifted its position in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Conagra Brands during the first quarter valued at approximately $44,000. Finally, Security National Bank bought a new position in shares of Conagra Brands in the fourth quarter worth approximately $48,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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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