Conagra Brands (NYSE:CAG) Price Target Lowered to $28.00 at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its price objective lowered by Stifel Nicolaus from $30.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 8.75% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $30.33.

Conagra Brands Trading Up 1.6 %

Shares of Conagra Brands stock opened at $25.75 on Friday. Conagra Brands has a 52-week low of $25.06 and a 52-week high of $33.24. The firm has a market capitalization of $12.29 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29. 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’s fifty day moving average price is $27.06 and its two-hundred day moving average price is $29.15.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts expect that Conagra Brands will post 2.46 EPS for the current year.

Institutional Investors Weigh In On Conagra Brands

Institutional investors have recently made changes to their positions in the stock. Greenleaf Trust lifted its stake in Conagra Brands by 9.5% in the fourth quarter. Greenleaf Trust now owns 13,866 shares of the company’s stock valued at $385,000 after buying an additional 1,206 shares during the period. Swedbank AB increased its stake in shares of Conagra Brands by 23.6% in the 4th quarter. Swedbank AB now owns 833,542 shares of the company’s stock valued at $23,131,000 after acquiring an additional 159,077 shares during the last quarter. Forsta AP Fonden raised its position in shares of Conagra Brands by 8.9% in the 4th quarter. Forsta AP Fonden now owns 123,600 shares of the company’s stock valued at $3,430,000 after acquiring an additional 10,100 shares during the period. SteelPeak Wealth LLC bought a new position in Conagra Brands during the 4th quarter worth approximately $238,000. Finally, Stonegate Investment Group LLC grew its holdings in Conagra Brands by 24.6% during the fourth quarter. Stonegate Investment Group LLC now owns 31,262 shares of the company’s stock valued at $868,000 after purchasing an additional 6,165 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

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.