Conagra Brands (NYSE:CAG) PT Lowered to $34.00

Conagra Brands (NYSE:CAG) had its price objective dropped by Citigroup from $36.00 to $34.00 in a research report issued on Friday, June 28th, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s target price points to a potential upside of 17.65% from the company’s previous close.

A number of other brokerages also recently issued reports on CAG. ValuEngine upgraded shares of William Lyon Homes from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks reiterated a “hold” rating and set a $8.00 target price on shares of TrueCar in a research report on Tuesday, May 14th. Evercore ISI initiated coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They set an “outperform” rating and a $62.00 target price on the stock. Bank of America set a $7.00 target price on shares of Deutsche Bank and gave the company a “sell” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley boosted their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.23.

Shares of Conagra Brands stock traded down $0.21 during midday trading on Friday, hitting $28.90. 4,504,972 shares of the company traded hands, compared to its average volume of 6,580,547. The stock has a market capitalization of $14.14 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.54 and a current ratio of 1.28. The business has a fifty day simple moving average of $28.36. Conagra Brands has a 12 month low of $20.22 and a 12 month high of $38.43.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.66 billion. Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. As a group, equities research analysts predict that Conagra Brands will post 2.11 earnings per share for the current year.

In other news, Director Craig P. Omtvedt bought 25,000 shares of Conagra Brands stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $26.73 per share, for a total transaction of $668,250.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ruth Ann Marshall sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $28.50, for a total transaction of $142,500.00. Following the completion of the sale, the director now owns 101,887 shares of the company’s stock, valued at approximately $2,903,779.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,717 shares of company stock valued at $517,077. Company insiders own 0.92% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CAG. First Allied Advisory Services Inc. lifted its holdings in Conagra Brands by 2.7% during the first quarter. First Allied Advisory Services Inc. now owns 14,258 shares of the company’s stock valued at $397,000 after purchasing an additional 371 shares during the last quarter. Old North State Trust LLC lifted its holdings in Conagra Brands by 23.9% during the first quarter. Old North State Trust LLC now owns 1,953 shares of the company’s stock valued at $54,000 after purchasing an additional 377 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in Conagra Brands by 4.1% during the first quarter. Eqis Capital Management Inc. now owns 9,947 shares of the company’s stock valued at $276,000 after purchasing an additional 396 shares during the last quarter. O Shares Investment Advisers LLC lifted its holdings in Conagra Brands by 3.0% during the first quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the company’s stock valued at $388,000 after purchasing an additional 408 shares during the last quarter. Finally, MainStreet Investment Advisors LLC lifted its holdings in Conagra Brands by 2.2% during the first quarter. MainStreet Investment Advisors LLC now owns 19,336 shares of the company’s stock valued at $536,000 after purchasing an additional 419 shares during the last quarter. Institutional investors own 88.53% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Analyst Recommendations for Conagra Brands (NYSE:CAG)

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