Conagra Brands, Inc. (NYSE:CAG) Given Average Rating of “Hold” by Brokerages

Shares of Conagra Brands, Inc. (NYSE:CAG) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.20.

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley started coverage on shares of Conagra Brands in a research note on Monday. They issued an “equal weight” rating and a $27.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th.

Conagra Brands Price Performance

Conagra Brands stock opened at $26.50 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands has a 52-week low of $23.06 and a 52-week high of $33.24. The firm has a market cap of $12.65 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company’s 50 day moving average is $25.62 and its two-hundred day moving average is $27.71.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CAG. Bessemer Group Inc. lifted its position in Conagra Brands by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after acquiring an additional 429 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of Conagra Brands by 1.3% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after purchasing an additional 501 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after purchasing an additional 505 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

About Conagra Brands

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.