Conagra Brands (NYSE:CAG) Coverage Initiated at UBS Group

Research analysts at UBS Group initiated coverage on shares of Conagra Brands (NYSE:CAG) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $22.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 2.06% from the company’s current price.

Several other brokerages also recently commented on CAG. Bank of America downgraded Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $27.00 to $20.00 in a report on Thursday. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Wells Fargo & Company lowered their target price on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, June 2nd. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.36.

Conagra Brands Stock Performance

NYSE:CAG opened at $21.56 on Monday. The firm has a market capitalization of $10.29 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14. 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 12-month low of $21.51 and a 12-month high of $33.24. The firm has a 50-day moving average price of $23.65 and a 200 day moving average price of $25.38.

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

Institutional Trading of Conagra Brands

Institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of Conagra Brands by 104.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company’s stock worth $49,776,000 after purchasing an additional 914,820 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $558,000. Proficio Capital Partners LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $2,035,000. Inspire Advisors LLC boosted its stake in Conagra Brands by 18.4% during the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company’s stock worth $1,755,000 after acquiring an additional 9,838 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Conagra Brands during the 4th quarter worth approximately $5,034,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.