Conagra Brands (NYSE:CAG) Given Average Recommendation of “Reduce” by Analysts

Shares of Conagra Brands (NYSE:CAG) have earned an average recommendation of “Reduce” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $14.0667.

Several brokerages have recently weighed in on CAG. Evercore decreased their target price on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. Wells Fargo & Company dropped their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, June 18th. Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Finally, Barclays upped their price target on Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 17th.

Institutional Investors Weigh In On Conagra Brands

A number of large investors have recently added to or reduced their stakes in CAG. Bell Investment Advisors Inc lifted its holdings in Conagra Brands by 156.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Conagra Brands during the second quarter worth about $26,000. Harbour Investments Inc. lifted its stake in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after acquiring an additional 701 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Conagra Brands in the second quarter worth about $29,000. Finally, Rakuten Securities Inc. boosted its holdings in Conagra Brands by 339.7% in the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock valued at $31,000 after purchasing an additional 1,756 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG opened at $16.00 on Friday. The firm’s fifty day simple moving average is $14.73 and its 200 day simple moving average is $15.24. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of -4.00 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, equities research analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s payout ratio is presently -17.50%.

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.