Conagra Brands (NYSE:CAG) PT Raised to $34.00 at Bank of America

Conagra Brands (NYSE:CAG) had its target price raised by Bank of America from $31.00 to $34.00 in a report released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on CAG. Evercore ISI reduced their target price on Conagra Brands from $32.00 to $31.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Barclays reduced their price objective on Conagra Brands from $34.00 to $33.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company dropped their price objective on Conagra Brands from $32.00 to $31.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Citigroup reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a neutral rating on the stock in a report on Friday, June 28th. Finally, Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a hold rating for the company in a report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $31.10.

Conagra Brands Trading Down 0.3 %

Shares of CAG stock opened at $32.30 on Tuesday. The stock has a market cap of $15.44 billion, a P/E ratio of 44.25, a P/E/G ratio of 2.88 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands has a fifty-two week low of $25.16 and a fifty-two week high of $33.24. The business has a fifty day simple moving average of $30.79 and a 200-day simple moving average of $29.99.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. On average, analysts forecast that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were issued a $0.35 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.33%. Conagra Brands’s payout ratio is 191.78%.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the second quarter worth about $25,000. Innealta Capital LLC acquired a new stake in Conagra Brands during the 2nd quarter worth approximately $25,000. Whittier Trust Co. increased its position in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. LRI Investments LLC purchased a new position in Conagra Brands in the first quarter valued at approximately $44,000. Finally, Security National Bank acquired a new position in Conagra Brands during the fourth quarter valued at approximately $48,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.