Sanford C. Bernstein Cuts Conagra Brands (NYSE:CAG) Price Target to $18.00

Conagra Brands (NYSE:CAG) had its target price lowered by Sanford C. Bernstein from $21.00 to $18.00 in a report released on Monday,MarketScreener reports. The firm currently has a market perform rating on the stock.

A number of other research firms have also commented on CAG. Wells Fargo & Company cut their target price on shares of Conagra Brands from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. The Goldman Sachs Group lowered their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a report on Monday, November 24th. Royal Bank Of Canada reduced their price objective on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $19.07.

Conagra Brands Trading Up 0.3%

NYSE:CAG opened at $17.04 on Monday. Conagra Brands has a 12-month low of $16.60 and a 12-month high of $28.51. The firm has a market capitalization of $8.15 billion, a P/E ratio of -77.43 and a beta of -0.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The business has a 50 day simple moving average of $17.58 and a 200 day simple moving average of $18.85.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.98 billion for 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%. Conagra Brands’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $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 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 8.2%. Conagra Brands’s dividend payout ratio is presently -636.36%.

Insider Activity

In other news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Conagra Brands

Hedge funds have recently made changes to their positions in the business. Quaker Wealth Management LLC boosted its stake in Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after purchasing an additional 2,427 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands in the second quarter valued at about $26,000. True Wealth Design LLC lifted its position in Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after buying an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Conagra Brands during the 2nd quarter worth about $29,000. Finally, Spire Wealth Management increased its position in Conagra Brands by 249.0% in the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors and hedge funds 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.