Stifel Nicolaus Raises Conagra Brands (CAG) Price Target to $42.00

Conagra Brands (NYSE:CAG) had its price objective hoisted by Stifel Nicolaus from $38.00 to $42.00 in a research report report published on Friday, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the company. BidaskClub lowered Conagra Brands from a sell rating to a strong sell rating in a report on Saturday, August 26th. Sanford C. Bernstein raised Conagra Brands from an underperform rating to a market perform rating in a report on Thursday, December 14th. Morgan Stanley decreased their price objective on Conagra Brands from $42.00 to $40.00 and set an overweight rating on the stock in a report on Monday, September 25th. Credit Suisse Group decreased their price objective on Conagra Brands from $39.00 to $37.00 and set a neutral rating on the stock in a report on Monday, September 25th. Finally, Jefferies Group reaffirmed a buy rating and issued a $40.00 price objective on shares of Conagra Brands in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $40.70.

Conagra Brands (NYSE:CAG) opened at $38.08 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 1.11. The firm has a market capitalization of $15,560.00, a P/E ratio of 22.67, a P/E/G ratio of 2.91 and a beta of 0.37. Conagra Brands has a 1-year low of $32.16 and a 1-year high of $41.68.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a return on equity of 23.61% and a net margin of 9.36%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. analysts anticipate that Conagra Brands will post 1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.213 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, January 29th. Conagra Brands’s dividend payout ratio is presently 50.60%.

In other news, EVP Colleen Batcheler sold 120,451 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the completion of the sale, the executive vice president now directly owns 211,514 shares in the company, valued at approximately $7,931,775. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Conagra Brands by 10,072.6% during the 2nd quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock worth $219,711,000 after buying an additional 6,083,663 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Conagra Brands by 64.0% during the 3rd quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock worth $402,810,000 after buying an additional 4,660,867 shares during the last quarter. AJO LP lifted its position in shares of Conagra Brands by 757.3% during the 2nd quarter. AJO LP now owns 3,118,724 shares of the company’s stock worth $111,526,000 after buying an additional 2,754,930 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Conagra Brands by 49.8% during the 2nd quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock worth $202,907,000 after buying an additional 1,886,614 shares during the last quarter. Finally, Numeric Investors LLC lifted its position in shares of Conagra Brands by 75.2% during the 2nd quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock worth $110,034,000 after buying an additional 1,321,100 shares during the last quarter. Hedge funds and other institutional investors own 78.88% of the company’s stock.

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Conagra Brands Company Profile

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.

Analyst Recommendations for Conagra Brands (NYSE:CAG)

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