Conagra Brands (NYSE:CAG) Given Sector Perform Rating at Royal Bank of Canada

Conagra Brands (NYSE:CAG)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $29.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.97% from the stock’s previous close.

CAG has been the subject of a number of other reports. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.88.

Conagra Brands Stock Performance

CAG stock opened at $27.11 on Friday. Conagra Brands has a 1 year low of $26.21 and a 1 year high of $33.24. The stock has a market capitalization 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 has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The stock’s fifty day moving average is $28.21 and its two-hundred day moving average is $29.52.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data 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. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $0.71 EPS. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Conagra Brands will post 2.58 EPS for the current year.

Hedge Funds Weigh In On Conagra Brands

Several large investors have recently made changes to their positions in CAG. Innealta Capital LLC bought a new stake in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands in the second quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands during the 3rd quarter valued at $47,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands during the 3rd quarter valued at $59,000. Institutional investors own 83.75% of the company’s stock.

About Conagra Brands

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.