Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Conagra Brands from a hold rating to a sell rating in a report on Thursday, June 21st. UBS Group upped their price target on shares of Conagra Brands from $38.00 to $39.00 and gave the company a neutral rating in a report on Friday, March 23rd. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $44.00 to $41.00 and set an overweight rating for the company in a report on Friday, March 23rd. Jefferies Financial Group reiterated a buy rating and issued a $44.00 price target on shares of Conagra Brands in a report on Thursday, March 22nd. Finally, Royal Bank of Canada reiterated a buy rating and issued a $46.00 price target on shares of Conagra Brands in a report on Friday, March 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $41.67.
Shares of NYSE CAG opened at $35.73 on Thursday. The company has a market cap of $14.32 billion, a P/E ratio of 16.85, a PEG ratio of 1.94 and a beta of 0.30. The company has a quick ratio of 0.52, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. Conagra Brands has a 52-week low of $32.16 and a 52-week high of $39.43.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, June 27th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Conagra Brands had a net margin of 10.18% and a return on equity of 22.54%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. equities research analysts predict that Conagra Brands will post 2.28 earnings per share for the current year.
In related news, SVP Robert G. Wise sold 5,908 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the transaction, the senior vice president now owns 22,781 shares in the company, valued at $845,630.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Butler sold 12,092 shares of the 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 transaction, the director now owns 127,755 shares of the company’s stock, valued at approximately $4,749,930.90. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. raised its position in Conagra Brands by 15.3% during the first quarter. Brown Advisory Inc. now owns 1,952,488 shares of the company’s stock worth $72,007,000 after acquiring an additional 258,614 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Conagra Brands during the first quarter worth $1,138,000. Nicola Wealth Management LTD. bought a new stake in Conagra Brands during the first quarter worth $1,999,000. Chesapeake Wealth Management bought a new stake in Conagra Brands during the first quarter worth $235,000. Finally, Suntrust Banks Inc. raised its position in Conagra Brands by 2.9% during the first quarter. Suntrust Banks Inc. now owns 134,077 shares of the company’s stock worth $4,943,000 after acquiring an additional 3,787 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
Conagra Brands Company Profile
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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