Evercore ISI Lowers Conagra Brands (NYSE:CAG) Price Target to $22.00

Conagra Brands (NYSE:CAG) had its target price decreased by stock analysts at Evercore ISI from $23.00 to $22.00 in a research report issued on Monday,MarketScreener reports. Evercore ISI’s price target points to a potential upside of 26.53% from the company’s previous close.

Several other analysts have also weighed in on the company. Jefferies Financial Group reduced 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. 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 report on Wednesday, September 24th. Bank of America dropped their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and an average price target of $19.50.

Conagra Brands Stock Performance

NYSE CAG opened at $17.39 on Monday. The firm has a 50-day moving average of $17.65 and a 200-day 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. The stock has a market cap of $8.32 billion, a PE ratio of -78.57 and a beta of -0.01. Conagra Brands has a 52-week low of $16.60 and a 52-week high of $28.51.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. Conagra Brands’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Insider Activity at Conagra Brands

In other news, SVP Melissa C. Napier sold 13,011 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Conagra Brands by 173.1% in the 1st quarter. Wellington Management Group LLP now owns 196,589 shares of the company’s stock worth $5,243,000 after buying an additional 124,595 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Conagra Brands in the 1st quarter worth about $580,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Conagra Brands during the 1st quarter valued at approximately $245,000. CW Advisors LLC grew its position in shares of Conagra Brands by 101.6% in the first quarter. CW Advisors LLC now owns 35,995 shares of the company’s stock valued at $960,000 after purchasing an additional 18,136 shares in the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Conagra Brands by 14.4% in the first quarter. Norinchukin Bank The now owns 23,585 shares of the company’s stock worth $629,000 after buying an additional 2,967 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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.