JPMorgan Chase & Co. Cuts Conagra Brands (NYSE:CAG) Price Target to $19.00

Conagra Brands (NYSE:CAG) had its price target decreased by JPMorgan Chase & Co. from $20.00 to $19.00 in a research report report published on Tuesday, MarketBeat.com reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of Conagra Brands in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. UBS Group decreased their price target on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Morgan Stanley upped their price objective on Conagra Brands from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Finally, Stifel Nicolaus cut their target price on Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and a consensus price target of $20.25.

Conagra Brands Stock Performance

NYSE:CAG opened at $17.80 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06. The stock has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $19.02. The firm has a market capitalization of $8.51 billion, a PE ratio of 10.11 and a beta of -0.01. Conagra Brands has a 52-week low of $16.60 and a 52-week high of $28.51.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.9%. Conagra Brands’s payout ratio is presently 79.55%.

Insider Activity

In other news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total transaction of $223,659.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Conagra Brands

A number of hedge funds have recently bought and sold shares of CAG. Public Sector Pension Investment Board increased its holdings in shares of Conagra Brands by 8.4% in the 1st quarter. Public Sector Pension Investment Board now owns 64,687 shares of the company’s stock worth $1,725,000 after buying an additional 5,015 shares during the last quarter. HighTower Advisors LLC grew its position in Conagra Brands by 44.3% in the first quarter. HighTower Advisors LLC now owns 153,056 shares of the company’s stock worth $4,082,000 after acquiring an additional 46,979 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after acquiring an additional 2,702,407 shares during the last quarter. Aberdeen Group plc raised its position in Conagra Brands by 98.2% during the first quarter. Aberdeen Group plc now owns 317,924 shares of the company’s stock valued at $8,497,000 after purchasing an additional 157,486 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its position in Conagra Brands by 42.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 60,024 shares of the company’s stock valued at $1,601,000 after purchasing an additional 17,748 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Company Profile

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.