Conagra Brands (NYSE:CAG) Given New $26.00 Price Target at Barclays

Conagra Brands (NYSE:CAG) had its price target dropped by analysts at Barclays from $29.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 12.14% from the company’s current price.

A number of other brokerages have also issued reports on CAG. Wells Fargo & Company cut their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Stifel Nicolaus cut their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $27.50.

Conagra Brands Trading Up 0.4%

NYSE:CAG traded up $0.10 during trading hours on Monday, reaching $23.19. The company’s stock had a trading volume of 1,642,728 shares, compared to its average volume of 5,215,845. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.76 and a beta of 0.18. The firm has a 50-day simple moving average of $25.44 and a 200-day simple moving average of $26.33. Conagra Brands has a 1 year low of $22.78 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Research analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CAG. Principal Financial Group Inc. raised its holdings in shares of Conagra Brands by 0.6% during the third quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock valued at $18,660,000 after purchasing an additional 3,597 shares during the last quarter. Czech National Bank grew its position in Conagra Brands by 6.0% during the fourth quarter. Czech National Bank now owns 103,483 shares of the company’s stock valued at $2,872,000 after buying an additional 5,896 shares during the period. Brookstone Capital Management grew its position in Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after buying an additional 62,187 shares during the period. Adams Asset Advisors LLC grew its position in Conagra Brands by 1.5% during the fourth quarter. Adams Asset Advisors LLC now owns 211,363 shares of the company’s stock valued at $5,865,000 after buying an additional 3,168 shares during the period. Finally, Wedmont Private Capital bought a new stake in Conagra Brands during the fourth quarter valued at approximately $702,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.