Conagra Brands (CAG) – Research Analysts’ Weekly Ratings Updates
A number of firms have modified their ratings and price targets on shares of Conagra Brands (NYSE: CAG) recently:
- 10/3/2017 – Conagra Brands had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $40.00 price target on the stock.
- 10/2/2017 – Conagra Brands was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Over the last month, Conagra’s shares have outperformed the industry. The company’s adjusted earnings for first-quarter fiscal 2018 came in 17.9% higher than the year-ago tally. Robust sales of on-trend products, diligent acquisitions and strategic restructuring moves are anticipated to bolster results in the quarters ahead. In addition, increased supply-chain productivity, existing volume strategy and improved price-mix are likely to boost the company’s near-term margins. However, dismal volumes and increased slotting dues associated with new innovation investments might weigh over near-term top-line results. Also, lower organic sales and higher-than-expected inflation rate might hurt margin-growth opportunities going forward. Stiff industry rivalry also remains a major cause of concern.”
- 9/29/2017 – Conagra Brands had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $45.00 price target on the stock.
- 9/25/2017 – Conagra Brands had its price target lowered by analysts at Credit Suisse Group from $39.00 to $37.00. They now have a “neutral” rating on the stock.
- 9/25/2017 – Conagra Brands had its price target lowered by analysts at Morgan Stanley from $42.00 to $40.00. They now have an “overweight” rating on the stock.
- 8/26/2017 – Conagra Brands was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/12/2017 – Conagra Brands was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 8/11/2017 – Conagra Brands had its “hold” rating reaffirmed by analysts at Credit Suisse Group. They now have a $39.00 price target on the stock.
Conagra Brands Inc. (CAG) traded up 0.21% during trading on Tuesday, reaching $33.41. 3,899,597 shares of the company’s stock traded hands. The stock has a market capitalization of $13.87 billion, a P/E ratio of 24.02 and a beta of 0.31. The company has a 50-day moving average of $33.90 and a 200 day moving average of $36.61. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $41.68.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that Conagra Brands Inc. will post $1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, October 13th will be given a $0.2125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.54%. Conagra Brands’s dividend payout ratio (DPR) is 60.28%.
In other Conagra Brands news, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction on 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 transaction, the director now directly owns 89,260 shares of the company’s stock, valued at approximately $2,965,217.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% 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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