Conagra Brands (NYSE:CAG) Given New $22.00 Price Target at Evercore ISI

Conagra Brands (NYSE:CAG) had its price objective reduced by equities researchers at Evercore ISI from $23.00 to $22.00 in a research report issued on Monday,MarketScreener reports. Evercore ISI’s target price would suggest a potential upside of 26.53% from the company’s current price.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group lowered their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Monday, November 24th. UBS Group decreased their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 24th. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, December 12th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Reduce” and a consensus price target of $19.50.

Conagra Brands Trading Up 0.2%

Shares of Conagra Brands stock opened at $17.39 on Monday. The firm has a 50-day simple moving average of $17.65 and a two-hundred day simple moving average of $18.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06. Conagra Brands has a fifty-two week low of $16.60 and a fifty-two week high of $28.51. The company has a market cap of $8.32 billion, a P/E ratio of -78.57 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last posted its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Insider Activity at Conagra Brands

In related news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were 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 is available at the SEC website. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Conagra Brands

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Conagra Brands by 1.6% in the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after buying an additional 966,031 shares during the period. State Street Corp increased its stake in Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after purchasing an additional 588,435 shares in the last quarter. Invesco Ltd. grew its position in Conagra Brands by 25.6% during the 3rd quarter. Invesco Ltd. now owns 15,587,877 shares of the company’s stock worth $285,414,000 after purchasing an additional 3,173,767 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Conagra Brands by 21.7% during the third quarter. Dimensional Fund Advisors LP now owns 14,674,084 shares of the company’s stock valued at $268,672,000 after buying an additional 2,618,647 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Conagra Brands by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock worth $262,405,000 after purchasing an additional 193,829 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.