Royal Bank of Canada Reiterates Sector Perform Rating for Conagra Brands (NYSE:CAG)

Conagra Brands (NYSE:CAG)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $29.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential downside of 1.74% from the stock’s current price.

A number of other brokerages have also recently issued reports on CAG. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays dropped their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Bank of America lifted their target price on Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI cut their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.00.

Conagra Brands Stock Up 0.6 %

NYSE:CAG opened at $29.52 on Thursday. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.24. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $31.29 and its two-hundred day moving average price is $30.26.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that Conagra Brands will post 2.61 earnings per share for the current fiscal year.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

A number of large investors have recently added to or reduced their stakes in CAG. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Conagra Brands by 7.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after acquiring an additional 373 shares during the period. Czech National Bank lifted its position in Conagra Brands by 0.5% during the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the period. Summit Financial Wealth Advisors LLC grew its stake in Conagra Brands by 1.1% during the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after buying an additional 430 shares in the last quarter. Courier Capital LLC grew its stake in Conagra Brands by 1.7% during the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after buying an additional 438 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Conagra Brands by 4.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.