Conagra Brands (NYSE:CAG) Stock Rating Lowered by Zacks Research

Conagra Brands (NYSE:CAG) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Conagra Brands from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. TD Cowen decreased their target price on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. BNP Paribas Exane downgraded Conagra Brands from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $16.00 in a research note on Thursday, April 9th. Jefferies Financial Group decreased their target price on Conagra Brands from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, BTIG Research started coverage on Conagra Brands in a research note on Monday, April 13th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $15.80.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $14.00 on Monday. The firm has a fifty day moving average price of $15.57 and a 200-day moving average price of $17.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The stock has a market cap of $6.70 billion and a PE ratio of -139.94. Conagra Brands has a 1 year low of $13.60 and a 1 year high of $23.37.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Equities analysts anticipate that Conagra Brands will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Conagra Brands

In other news, Director John J. Mulligan bought 17,500 shares of the stock in a transaction on Tuesday, April 14th. The stock was acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the acquisition, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Lenny bought 25,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds have recently made changes to their positions in CAG. NewEdge Advisors LLC lifted its holdings in shares of Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares during the period. United Services Automobile Association bought a new position in shares of Conagra Brands in the 1st quarter worth $225,000. Empowered Funds LLC raised its position in shares of Conagra Brands by 5.9% in the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after acquiring an additional 2,038 shares in the last quarter. Woodline Partners LP raised its position in shares of Conagra Brands by 40.7% in the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Conagra Brands by 3.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,900 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.