Conagra Brands (NYSE:CAG) Given New $26.00 Price Target at Stifel Nicolaus

Conagra Brands (NYSE:CAG) had its target price reduced by Stifel Nicolaus from $28.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 4.66% from the stock’s current price.

A number of other research firms also recently weighed in on CAG. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Barclays dropped their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company dropped their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.78.

Conagra Brands Trading Up 2.3 %

Shares of Conagra Brands stock opened at $24.84 on Wednesday. The business has a fifty day simple moving average of $26.20 and a two-hundred day simple moving average of $28.57. Conagra Brands has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.63 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $0.71 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. Research analysts forecast that Conagra Brands will post 2.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co bought a new position in Conagra Brands in the fourth quarter valued at about $29,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter valued at about $44,000. Institutional investors 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.