Conagra Brands, Inc. (MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $27.10. 615f2t
A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd.
Read Our Latest Analysis on CAG
Conagra Brands stock traded up $0.11 during trading hours on Wednesday, reaching $22.37. The stock had a trading volume of 4,738,184 shares, compared to its average volume of 5,463,949. Conagra Brands has a 52 week low of $21.98 and a 52 week high of $33.24. The business's 50 day moving average price is $24.05 and its 200-day moving average price is $25.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.76 and a beta of 0.14.
Conagra Brands (Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Sell-side analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.26%. Conagra Brands's payout ratio is 205.88%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Conagra Brands by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company's stock valued at $1,610,971,000 after purchasing an additional 1,604,893 shares during the period. Invesco Ltd. raised its holdings in shares of Conagra Brands by 6.3% during the 1st quarter. Invesco Ltd. now owns 11,859,985 shares of the company's stock worth $316,306,000 after buying an additional 698,630 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Conagra Brands by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after acquiring an additional 231,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock valued at $217,686,000 after buying an additional 2,702,407 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after purchasing an additional 2,058,000 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.
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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