Weekly Investment Analysts’ Ratings Updates for Conagra Brands (CAG)

Conagra Brands (NYSE: CAG) recently received a number of ratings updates from brokerages and research firms:

• 1/18/2023 – Conagra Brands was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 1/10/2023 – Conagra Brands was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at Royal Bank of Canada from $35.00 to $38.00. They now have a “sector perform” rating on the stock.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at Morgan Stanley from $45.00 to $48.00. They now have an “overweight” rating on the stock.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at JPMorgan Chase & Co. from $38.00 to $43.00. They now have a “neutral” rating on the stock.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at Credit Suisse Group AG from $35.00 to $40.00. They now have a “neutral” rating on the stock.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at UBS Group AG from $41.00 to $45.00. They now have a “buy” rating on the stock.
• 1/6/2023 – Conagra Brands had its price target raised by analysts at Stifel Nicolaus from $35.00 to $44.00.
• 12/29/2022 – Conagra Brands had its price target raised by analysts at Evercore ISI from $40.00 to $42.00. They now have an “outperform” rating on the stock.
• 12/20/2022 – Conagra Brands was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $45.00 price target on the stock, up previously from $34.00.
• 12/6/2022 – Conagra Brands was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating. They now have a $34.00 price target on the stock, up previously from $33.00.

Conagra Brands Price Performance

CAG stock traded down $0.33 during midday trading on Wednesday, hitting $36.93. The company’s stock had a trading volume of 2,839,250 shares, compared to its average volume of 4,574,060. The company has a quick ratio of 0.29, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. Conagra Brands, Inc. has a 12 month low of $30.06 and a 12 month high of $41.30. The company has a 50 day moving average of $38.29 and a two-hundred day moving average of $35.81. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Conagra Brands (NYSE:CAG – Get Rating) last issued its earnings results on Thursday, January 5th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.28 billion. Conagra Brands had a net margin of 5.66% and a return on equity of 14.38%. Conagra Brands’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts expect that Conagra Brands, Inc. will post 2.67 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Monday, January 30th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, January 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.57%. Conagra Brands’s dividend payout ratio is currently 93.62%.

Insider Activity at Conagra Brands

In related news, SVP Robert G. Wise sold 50,000 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $40.90, for a total value of $2,045,000.00. Following the completion of the transaction, the senior vice president now directly owns 22,717 shares of the company’s stock, valued at $929,125.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sawtooth Solutions LLC boosted its stake in Conagra Brands by 11.1% during the second quarter. Sawtooth Solutions LLC now owns 10,980 shares of the company’s stock worth $376,000 after buying an additional 1,100 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Conagra Brands by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,518 shares of the company’s stock valued at $1,113,000 after purchasing an additional 292 shares during the last quarter. NewEdge Wealth LLC bought a new position in Conagra Brands during the 2nd quarter valued at about $635,000. Leavell Investment Management Inc. raised its position in Conagra Brands by 6.5% in the 2nd quarter. Leavell Investment Management Inc. now owns 6,825 shares of the company’s stock worth $234,000 after purchasing an additional 418 shares during the period. Finally, LPL Financial LLC lifted its stake in Conagra Brands by 20.3% in the second quarter. LPL Financial LLC now owns 516,609 shares of the company’s stock worth $17,689,000 after purchasing an additional 87,089 shares during the last quarter. Institutional investors own 81.08% of the company’s stock.

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.