TheStreet lowered shares of Conagra Brands (NYSE:CAG) from a b- rating to a c+ rating in a research report sent to investors on Monday.
Several other analysts have also issued reports on CAG. Stephens started coverage on shares of Conagra Brands in a research report on Monday, August 20th. They issued an overweight rating and a $45.00 price target on the stock. Zacks Investment Research raised shares of Conagra Brands from a sell rating to a hold rating in a report on Wednesday, October 3rd. ValuEngine downgraded shares of Conagra Brands from a hold rating to a sell rating in a report on Thursday, September 27th. Credit Suisse Group started coverage on shares of Conagra Brands in a research note on Wednesday, October 31st. They issued a neutral rating and a $40.00 target price for the company. Finally, Sanford C. Bernstein downgraded shares of Conagra Brands from a market perform rating to an underperform rating in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Conagra Brands has an average rating of Buy and a consensus target price of $42.20.
Conagra Brands stock opened at $31.62 on Monday. Conagra Brands has a 52 week low of $30.90 and a 52 week high of $39.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39. The company has a market capitalization of $12.57 billion, a P/E ratio of 14.99, a PEG ratio of 1.87 and a beta of 0.14.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts forecast that Conagra Brands will post 2.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, January 30th will be paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.69%. Conagra Brands’s payout ratio is 40.28%.
In other Conagra Brands news, Director Thomas K. Brown acquired 7,092 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The stock was acquired at an average price of $35.25 per share, for a total transaction of $249,993.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Connolly acquired 14,184 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The stock was acquired at an average price of $35.25 per share, with a total value of $499,986.00. Following the acquisition, the insider now owns 217,607 shares in the company, valued at $7,670,646.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 24,112 shares of company stock worth $849,948. 0.92% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CAG. Vanguard Group Inc. grew its position in Conagra Brands by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 45,019,445 shares of the company’s stock valued at $1,529,309,000 after purchasing an additional 362,347 shares during the period. WealthPLAN Partners LLC raised its stake in shares of Conagra Brands by 85.0% during the 3rd quarter. WealthPLAN Partners LLC now owns 12,212 shares of the company’s stock worth $405,000 after purchasing an additional 5,612 shares during the period. Morgan Stanley raised its stake in shares of Conagra Brands by 0.6% during the 3rd quarter. Morgan Stanley now owns 2,159,214 shares of the company’s stock worth $73,348,000 after purchasing an additional 12,000 shares during the period. Legal & General Group Plc raised its stake in Conagra Brands by 8.8% in the 3rd quarter. Legal & General Group Plc now owns 2,223,955 shares of the company’s stock valued at $75,529,000 after acquiring an additional 179,744 shares during the period. Finally, Nordea Investment Management AB raised its stake in Conagra Brands by 1,096.0% in the 3rd quarter. Nordea Investment Management AB now owns 334,940 shares of the company’s stock valued at $11,379,000 after acquiring an additional 306,936 shares during the period. Institutional investors own 87.18% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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