Conagra Brands (NYSE:CAG) Stock Has Consensus Price Target of $14.07 According to Brokerages

Shares of Conagra Brands (NYSE:CAG) have earned a consensus recommendation of “Reduce” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.07.

Several analysts have commented on CAG shares. Weiss Ratings restated a “sell (d)” rating on shares of Conagra Brands in a report on Tuesday, September 22nd. Barclays cut their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Evercore set a $13.00 price objective on shares of Conagra Brands in a research report on Tuesday, September 29th. Royal Bank Of Canada restated a “sector perform” rating and set a $14.00 price objective on shares of Conagra Brands in a research report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, September 18th.

Institutional Trading of Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Latitude Advisors LLC bought a new position in shares of Conagra Brands in the 3rd quarter valued at about $26,000. Curry Webb Wealth Management LLC bought a new stake in shares of Conagra Brands during the third quarter worth approximately $30,000. Rakuten Securities Inc. raised its stake in shares of Conagra Brands by 339.7% during the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after buying an additional 1,756 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in Conagra Brands in the third quarter valued at approximately $32,000. Finally, Provenance Wealth Advisors LLC acquired a new position in Conagra Brands in the third quarter valued at approximately $34,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

NYSE:CAG opened at $15.21 on Wednesday. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The firm’s fifty day simple moving average is $14.53 and its 200 day simple moving average is $15.25. The company has a current ratio of 1.10, a quick ratio of 0.39 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $7.26 billion, a PE ratio of -3.82 and a beta of 0.02.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 1.46 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, November 5th. Conagra Brands’s dividend payout ratio is -17.59%.

About Conagra Brands

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks. The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.