Conagra Brands (NYSE:CAG) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Conagra Brands (NYSE:CAG) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat reports. The Goldman Sachs Group currently has $26.00 price target on the stock, down from their prior price target of $33.00.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.67.

Conagra Brands Trading Down 2.9 %

Shares of NYSE:CAG opened at $25.34 on Monday. The business’s 50 day simple moving average is $26.03 and its 200 day simple moving average is $28.44. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.10 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. On average, research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.52%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Institutional Trading of Conagra Brands

Several hedge funds and other institutional investors have recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in Conagra Brands during the fourth quarter valued at $29,000. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $41,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Company Profile

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.