Barclays Has Lowered Expectations for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target dropped by equities researchers at Barclays from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 13.76% from the stock’s previous close.

Several other research firms have also commented on CAG. Evercore lowered their price target on shares of Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. BTIG Research assumed coverage on Conagra Brands in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Wells Fargo & Company cut their price target on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $14.00.

Conagra Brands Stock Performance

Shares of CAG opened at $14.06 on Wednesday. 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 stock has a market cap of $6.73 billion, a P/E ratio of -140.64 and a beta of -0.02. The company has a 50-day moving average of $13.63 and a two-hundred day moving average of $15.88. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.82.

Insiders Place Their Bets

In other news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the acquisition, the director directly owned 20,728 shares in the company, valued at $296,617.68. This trade represents a 542.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Lenny acquired 25,000 shares of Conagra Brands stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the purchase, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAG. WealthPlan Investment Management LLC grew its position in Conagra Brands by 5.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after acquiring an additional 548 shares in the last quarter. International Private Wealth Advisors LLC lifted its stake in shares of Conagra Brands by 4.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock worth $228,000 after acquiring an additional 609 shares in the last quarter. All Terrain Financial Advisors LLC boosted its holdings in Conagra Brands by 0.3% in the fourth quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after purchasing an additional 609 shares during the last quarter. Blair William & Co. IL boosted its holdings in Conagra Brands by 0.5% in the third quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock valued at $2,494,000 after purchasing an additional 633 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC grew its stake in Conagra Brands by 4.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after purchasing an additional 701 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.