Conagra Brands Inc (NYSE:CAG) has been given a consensus rating of “Hold” by the eleven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $41.13.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Thursday, February 22nd. Stifel Nicolaus upped their target price on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. Finally, Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th.
Conagra Brands (NYSE CAG) traded down $0.33 during trading hours on Friday, hitting $36.20. The company had a trading volume of 1,275,374 shares, compared to its average volume of 3,460,641. The company has a market cap of $14,535.98, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.31 and a beta of 0.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. Conagra Brands has a 12 month low of $32.16 and a 12 month high of $41.68.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. sell-side analysts predict that Conagra Brands will post 1.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be issued a $0.213 dividend. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, January 29th. Conagra Brands’s dividend payout ratio is presently 50.90%.
In other news, SVP Robert G. Wise sold 23,170 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the transaction, the senior vice president now directly owns 51,859 shares in the company, valued at approximately $1,963,900.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joie A. Gregor sold 5,250 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The disclosure for this sale can be found here. Insiders sold a total of 154,121 shares of company stock valued at $5,793,780 over the last quarter. Company insiders own 0.79% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Conagra Brands by 7.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 56,302 shares of the company’s stock valued at $2,121,000 after acquiring an additional 3,993 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Conagra Brands by 3.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 67,286 shares of the company’s stock valued at $2,535,000 after acquiring an additional 1,941 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Conagra Brands by 94.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after acquiring an additional 1,923 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Conagra Brands by 2.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 175,886 shares of the company’s stock valued at $6,626,000 after acquiring an additional 4,504 shares during the period. Finally, Delek Group Ltd. purchased a new stake in Conagra Brands during the 4th quarter valued at about $12,116,000. Institutional investors own 81.33% of the company’s stock.
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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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