Conagra Brands (NYSE:CAG) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Friday, June 29th. Citigroup lowered their target price on Conagra Brands from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, June 28th. Royal Bank of Canada reiterated a “buy” rating and set a $46.00 target price on shares of Conagra Brands in a report on Friday, March 23rd. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, March 23rd. Finally, UBS Group increased their target price on Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.67.
Shares of NYSE:CAG opened at $34.64 on Wednesday. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.96 and a beta of 0.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.40 and a current ratio of 0.83. Conagra Brands has a one year low of $32.16 and a one year high of $39.43.
Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, June 27th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Conagra Brands had a return on equity of 22.54% and a net margin of 10.18%. Conagra Brands’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. equities research analysts forecast that Conagra Brands will post 2.28 earnings per share for the current year.
In other news, Director Stephen G. Butler sold 12,092 shares of the firm’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the sale, the director now owns 127,755 shares in the company, valued at $4,749,930.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven F. Goldstone sold 72,678 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $35.59, for a total value of $2,586,610.02. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Conagra Brands by 7.1% in the 1st quarter. BlackRock Inc. now owns 29,385,070 shares of the company’s stock worth $1,083,722,000 after buying an additional 1,935,790 shares during the period. American Century Companies Inc. raised its position in shares of Conagra Brands by 1.6% in the 1st quarter. American Century Companies Inc. now owns 11,837,834 shares of the company’s stock worth $436,579,000 after buying an additional 188,515 shares during the period. Geode Capital Management LLC raised its position in shares of Conagra Brands by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 5,120,436 shares of the company’s stock worth $192,547,000 after buying an additional 225,403 shares during the period. Teachers Advisors LLC raised its position in shares of Conagra Brands by 0.8% in the 4th quarter. Teachers Advisors LLC now owns 3,127,997 shares of the company’s stock worth $117,832,000 after buying an additional 26,304 shares during the period. Finally, Coho Partners Ltd. purchased a new position in shares of Conagra Brands in the 1st quarter worth $94,362,000. 76.66% of the stock is currently owned by institutional investors and hedge funds.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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