Analysts Set Conagra Brands, Inc. (NYSE:CAG) Target Price at $41.00

Posted by on Apr 24th, 2023

Shares of Conagra Brands, Inc. (NYSE:CAG – Get Rating) have received a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $41.00.

A number of equities analysts have commented on CAG shares. Evercore ISI boosted their target price on shares of Conagra Brands from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 29th. Stifel Nicolaus began coverage on shares of Conagra Brands in a research report on Thursday, April 13th. They set a “hold” rating and a $43.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Conagra Brands from $35.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, January 6th. JPMorgan Chase & Co. increased their price objective on Conagra Brands from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, January 6th. Finally, UBS Group boosted their target price on Conagra Brands from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th.

Conagra Brands Stock Up 0.1 %

Shares of Conagra Brands stock opened at $37.45 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.97 and a quick ratio of 0.32. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.13 and a beta of 0.56. The firm’s 50-day moving average is $36.66 and its two-hundred day moving average is $36.87. Conagra Brands has a 1 year low of $31.01 and a 1 year high of $41.30.

Conagra Brands (NYSE:CAG – Get Rating) last released its quarterly earnings data on Wednesday, April 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Conagra Brands had a net margin of 6.59% and a return on equity of 15.34%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. As a group, research analysts expect that Conagra Brands will post 2.76 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, April 28th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, April 27th. This represents a $1.32 dividend on an annualized basis and a yield of 3.52%. Conagra Brands’s dividend payout ratio is currently 79.04%.

Insider Activity

In related news, COO Thomas M. Mcgough sold 45,000 shares of the stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $38.66, for a total value of $1,739,700.00. Following the transaction, the chief operating officer now owns 104,859 shares in the company, valued at approximately $4,053,848.94. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Thomas M. Mcgough sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $38.66, for a total transaction of $1,739,700.00. Following the completion of the transaction, the chief operating officer now owns 104,859 shares of the company’s stock, valued at $4,053,848.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charisse Brock sold 7,036 shares of the company’s stock in a transaction on Friday, April 14th. The shares were sold at an average price of $37.04, for a total transaction of $260,613.44. Following the completion of the sale, the executive vice president now directly owns 94,802 shares in the company, valued at $3,511,466.08. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Conagra Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 1,492.0% in the third quarter. Hexagon Capital Partners LLC now owns 796 shares of the company’s stock worth $26,000 after acquiring an additional 746 shares during the period. Delta Asset Management LLC TN acquired a new position in Conagra Brands in the 4th quarter worth about $27,000. Core Alternative Capital purchased a new position in Conagra Brands during the first quarter worth approximately $31,000. ST Germain D J Co. Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $33,000. Finally, Ronald Blue Trust Inc. increased its position in shares of Conagra Brands by 117.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,031 shares of the company’s stock valued at $34,000 after buying an additional 557 shares in the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Company Profile

(Get Rating)

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.

Featured Stories

Analyst Recommendations for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.