Wells Fargo & Company Issues Positive Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target raised by Wells Fargo & Company from $18.00 to $20.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 1.11% from the company’s current price.

A number of other equities analysts have also commented on the company. Jefferies Financial Group cut their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Sanford C. Bernstein decreased their target price on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Wall Street Zen cut Conagra Brands from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands presently has an average rating of “Reduce” and an average target price of $19.00.

Conagra Brands Trading Up 0.1%

CAG opened at $19.78 on Tuesday. The company has a market cap of $9.46 billion, a P/E ratio of -89.91 and a beta of -0.01. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $17.80 and its 200-day moving average is $18.17. Conagra Brands has a 1-year low of $15.96 and a 1-year high of $28.51.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Conagra Brands

Several hedge funds have recently made changes to their positions in CAG. Norges Bank bought a new stake in Conagra Brands during the 2nd quarter valued at about $172,475,000. Two Sigma Investments LP grew its position in Conagra Brands by 239.6% in the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock worth $152,837,000 after purchasing an additional 5,889,542 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Conagra Brands by 245.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock worth $141,611,000 after purchasing an additional 5,495,503 shares during the period. AQR Capital Management LLC raised its stake in Conagra Brands by 216.2% during the 3rd quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock valued at $135,318,000 after buying an additional 5,100,424 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Conagra Brands by 241.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock valued at $108,313,000 after buying an additional 4,185,486 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

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.