Research Analysts’ Recent Ratings Changes for ConAgra Foods (CAG)

Several brokerages have updated their recommendations and price targets on shares of ConAgra Foods (NYSE: CAG) in the last few weeks:

  • 7/5/2017 – ConAgra Foods was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/1/2017 – ConAgra Foods was given a new $39.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock.
  • 6/30/2017 – ConAgra Foods had its “sell” rating reaffirmed by analysts at UBS AG. They now have a $33.00 price target on the stock, down previously from $35.00.
  • 6/28/2017 – ConAgra Foods had its “overweight” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $42.00 price target on the stock, down previously from $44.00.
  • 6/26/2017 – ConAgra Foods had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $42.00 price target on the stock, down previously from $43.00.
  • 6/26/2017 – ConAgra Foods had its “buy” rating reaffirmed by analysts at Bank of America Corporation. They now have a $43.00 price target on the stock, down previously from $44.00.
  • 6/16/2017 – ConAgra Foods had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 6/2/2017 – ConAgra Foods was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Over the last one month, Conagra’s shares have outperformed the Zacks categorized Miscellaneous Preparation/Diversified industry. The company is poised to strengthen its business on the back of lower expenses and greater operational efficacy. Also, strategic divestitures and diligent acquisitions are anticipated to generate benefits in the quarters ahead. However, certain headwinds such as stiff industry rivalry, a stronger U.S. dollar or input price inflation might limit the company’s near-term growth. However, Conagra Over the last 30 days, the Zacks Consensus Estimate for the stock remained unchanged for fiscal 2018.”
  • 5/31/2017 – ConAgra Foods had its price target lowered by analysts at J P Morgan Chase & Co from $45.00 to $44.00. They now have an “overweight” rating on the stock.
  • 5/22/2017 – ConAgra Foods was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the last one month, Conagra's shares have underperformed the Zacks categorized Miscellaneous Preparation/Diversified industry. Certain headwinds such as stiff industry rivalry, a stronger U.S. dollar or input price inflation might limit the company's near-term growth. However, Conagra is poised to strengthen its business on the back of lower expenses and greater operational efficacy. Also, strategic divestitures and diligent acquisitions are anticipated to generate benefits in the quarters ahead. Over the last 30 days, the Zacks Consensus Estimate for the stock remained unchanged for fiscal 2018.”

ConAgra Foods Inc. (NYSE CAG) opened at 33.48 on Tuesday. ConAgra Foods Inc. has a one year low of $32.93 and a one year high of $48.86. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 22.62 and a beta of 0.33. The stock’s 50 day moving average is $38.25 and its 200 day moving average is $39.30.

ConAgra Foods (NYSE:CAG) last posted its earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company posted $0.52 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts predict that ConAgra Foods Inc. will post $1.86 earnings per share for the current fiscal year.

In other news, Director Stephen G. Butler sold 5,848 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.80, for a total value of $209,358.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total transaction of $200,848.12. Following the completion of the sale, the director now directly owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

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