Conagra Brands (NYSE:CAG) Lowered to “Neutral” Rating by BNP Paribas Exane

Conagra Brands (NYSE:CAG) was downgraded by investment analysts at BNP Paribas Exane from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday. They currently have a $16.00 price target on the stock. BNP Paribas Exane’s target price would suggest a potential upside of 2.74% from the stock’s current price.

Several other research analysts also recently commented on the stock. TD Cowen decreased their target price on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. Sanford C. Bernstein dropped their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, April 2nd. The Goldman Sachs Group cut their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, April 2nd. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, Barclays dropped their price objective on Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and a consensus price target of $16.07.

Conagra Brands Stock Up 0.5%

Shares of NYSE CAG opened at $15.57 on Thursday. Conagra Brands has a 12 month low of $15.03 and a 12 month high of $26.33. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of -155.72 and a beta of 0.04. The company has a current ratio of 0.90, a quick ratio of 0.28 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average of $17.63 and a 200-day moving average of $17.65.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conagra Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in Conagra Brands during the second quarter valued at approximately $26,000. MUFG Securities EMEA plc bought a new stake in Conagra Brands in the 2nd quarter worth approximately $29,000. Harbour Investments Inc. grew its position in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares during the period. True Wealth Design LLC raised its stake in Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after buying an additional 1,427 shares during the last quarter. Finally, Spire Wealth Management raised its stake in Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after buying an additional 1,230 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

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.