Conagra Brands (NYSE:CAG) Given Consensus Rating of “Reduce” by Brokerages

Shares of Conagra Brands (NYSE:CAG) have been given a consensus recommendation of “Reduce” by the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.60.

Several research firms have weighed in on CAG. Wells Fargo & Company lowered their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Wall Street Zen raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Weiss Ratings cut Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Finally, Evercore lowered their target price on Conagra Brands from $19.00 to $18.00 in a research note on Thursday, April 2nd.

Conagra Brands Price Performance

NYSE CAG opened at $13.16 on Wednesday. The stock’s 50-day moving average price is $14.68 and its two-hundred day moving average price is $16.72. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.30 billion and a PE ratio of -131.59. Conagra Brands has a 1 year low of $13.14 and a 1 year high of $23.09.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the firm earned $0.51 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Thursday, April 30th. Conagra Brands’s payout ratio is -1,400.00%.

Insider Activity at Conagra Brands

In other news, Director John J. Mulligan purchased 17,500 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average price of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Lenny purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. This represents a 12.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Several large investors have recently made changes to their positions in CAG. Bell Investment Advisors Inc grew its stake in shares of Conagra Brands by 156.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after buying an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. grew its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $33,000. Institutional investors own 83.75% of the company’s stock.

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.