Barclays Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its target price dropped by equities research analysts at Barclays from $33.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 18.04% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.75.

Conagra Brands Trading Up 1.1 %

Shares of CAG stock opened at $27.11 on Monday. Conagra Brands has a twelve month low of $26.21 and a twelve month high of $33.24. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.91 and a beta of 0.31. The company’s 50-day moving average price is $28.21 and its 200-day moving average price is $29.51. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. As a group, equities analysts predict that Conagra Brands will post 2.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Lantz Financial LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $201,000. Atria Wealth Solutions Inc. increased its stake in Conagra Brands by 1.8% in the second quarter. Atria Wealth Solutions Inc. now owns 28,532 shares of the company’s stock valued at $811,000 after purchasing an additional 513 shares during the period. &PARTNERS acquired a new position in Conagra Brands in the second quarter valued at $319,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Conagra Brands by 64.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,037,503 shares of the company’s stock valued at $29,486,000 after buying an additional 404,813 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Conagra Brands by 523.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after buying an additional 1,214,859 shares during the period. 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.