Conagra Brands (NYSE:CAG) Price Target Lowered to $13.00 at UBS Group

Conagra Brands (NYSE:CAG) had its price target lowered by equities research analysts at UBS Group from $16.00 to $13.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 0.04% from the stock’s current price.

A number of other research firms have also recently issued reports on CAG. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Wall Street Zen raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings cut shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Morgan Stanley decreased their target price on shares of Conagra Brands from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $15.27.

Conagra Brands Stock Performance

NYSE:CAG opened at $13.00 on Tuesday. The firm’s 50-day moving average is $14.48 and its 200-day moving average is $16.61. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -131.43 and a beta of -0.02. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.30 and a current ratio of 0.90. Conagra Brands has a 52-week low of $13.10 and a 52-week high of $22.81.

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

Insider Activity at Conagra Brands

In other Conagra Brands news, Director Richard H. Lenny bought 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was bought at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. This represents a 12.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Mulligan purchased 17,500 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bell Investment Advisors Inc grew its position in shares of Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands during the 2nd quarter worth $26,000. Harbour Investments Inc. raised its position in shares of Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after acquiring an additional 701 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the 2nd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $33,000. 83.75% of the stock is currently owned by 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.