A number of other equities research analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Conagra Brands from $34.00 to $35.00 and gave the company a buy rating in a research report on Friday. Goldman Sachs Group downgraded shares of Conagra Brands from a buy rating to a neutral rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of Conagra Brands from a sell rating to a hold rating and set a $29.00 price target for the company in a research report on Monday, July 8th. UBS Group set a $32.00 price target on shares of Conagra Brands and gave the company a buy rating in a research report on Friday, June 28th. Finally, Evercore ISI started coverage on shares of Conagra Brands in a research report on Tuesday, June 11th. They set an outperform rating and a $36.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $33.64.
NYSE:CAG traded up $0.40 during mid-day trading on Friday, reaching $30.68. The stock had a trading volume of 4,354,088 shares, compared to its average volume of 6,129,285. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 1.11. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.08 and a beta of 0.85. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $37.60. The business has a 50 day simple moving average of $29.04 and a 200 day simple moving average of $28.47.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts expect that Conagra Brands will post 2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be paid a dividend of $0.2125 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.77%. Conagra Brands’s dividend payout ratio (DPR) is 42.29%.
In other news, COO Thomas M. Mcgough sold 26,099 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the transaction, the chief operating officer now directly owns 145,869 shares of the company’s stock, valued at approximately $4,521,939. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Colleen Batcheler sold 25,458 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at $5,096,190. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,146 shares of company stock valued at $2,421,143. Corporate insiders own 0.84% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Berman Capital Advisors LLC increased its stake in shares of Conagra Brands by 86.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock worth $25,000 after purchasing an additional 444 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of Conagra Brands during the 2nd quarter worth approximately $26,000. CSat Investment Advisory L.P. increased its stake in shares of Conagra Brands by 101.4% during the 1st quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Kavar Capital Partners LLC purchased a new position in shares of Conagra Brands during the 2nd quarter worth approximately $34,000. Finally, Coastal Investment Advisors Inc. grew its stake in Conagra Brands by 4,160.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,704 shares of the company’s stock worth $46,000 after acquiring an additional 1,664 shares during the period. 86.65% of the stock is 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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