JPMorgan Chase & Co. Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $29.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 2.42% from the stock’s current price.

CAG has been the topic of several other research reports. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Trading Down 0.3 %

Shares of Conagra Brands stock opened at $25.39 on Thursday. The business has a fifty day simple moving average of $25.90 and a 200-day simple moving average of $28.29. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. On average, equities analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the 4th quarter valued at about $29,000. Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the fourth quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands in the fourth quarter worth approximately $44,000. Hedge funds and other 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.