Conagra Brands (NYSE:CAG) Stock Rating Reaffirmed by Jefferies Financial Group

Conagra Brands (NYSE:CAG)‘s stock had its “buy” rating restated by analysts at Jefferies Financial Group in a research note issued to investors on Monday, Price Targets.com reports.

Several other analysts also recently commented on CAG. Morgan Stanley lowered their target price on shares of Conagra Brands from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, July 14th. Stifel Nicolaus lowered shares of Conagra Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research report on Wednesday, July 14th. Bank of America lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $36.00 in a research report on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Conagra Brands from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, July 14th. Finally, Citigroup dropped their target price on shares of Conagra Brands from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $36.90.

Shares of NYSE CAG opened at $33.19 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.29 and a current ratio of 0.82. Conagra Brands has a 52-week low of $32.25 and a 52-week high of $39.09. The firm has a 50 day moving average price of $33.79 and a two-hundred day moving average price of $36.01. The stock has a market cap of $15.94 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Monday, July 12th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. Analysts predict that Conagra Brands will post 2.47 earnings per share for the current fiscal year.

In other news, Director Richard H. Lenny purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 15th. The shares were purchased at an average price of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the purchase, the director now owns 128,261 shares in the company, valued at approximately $4,378,830.54. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Colleen Batcheler sold 33,803 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $34.20, for a total value of $1,156,062.60. Following the sale, the executive vice president now directly owns 159,944 shares in the company, valued at approximately $5,470,084.80. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dupont Capital Management Corp lifted its holdings in shares of Conagra Brands by 1,011.9% during the second quarter. Dupont Capital Management Corp now owns 84,741 shares of the company’s stock worth $3,083,000 after purchasing an additional 77,120 shares during the period. Voloridge Investment Management LLC increased its position in shares of Conagra Brands by 30.8% in the first quarter. Voloridge Investment Management LLC now owns 339,739 shares of the company’s stock valued at $12,774,000 after buying an additional 80,097 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Conagra Brands by 8.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,136,561 shares of the company’s stock valued at $80,334,000 after buying an additional 157,619 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Conagra Brands by 9.9% in the second quarter. Alliancebernstein L.P. now owns 730,962 shares of the company’s stock valued at $26,592,000 after buying an additional 65,765 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its position in shares of Conagra Brands by 5,093.3% in the first quarter. Freestone Capital Holdings LLC now owns 83,560 shares of the company’s stock valued at $3,142,000 after buying an additional 81,951 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

About Conagra Brands

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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