Stifel Nicolaus Upgrades Conagra Brands Inc. (CAG) to Buy
Conagra Brands Inc. (NYSE:CAG) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday. The brokerage presently has a $38.00 target price on the stock, up from their prior target price of $36.00. Stifel Nicolaus’ price objective indicates a potential upside of 12.79% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently weighed in on CAG. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Credit Suisse Group set a $39.00 price target on Conagra Brands and gave the stock a “hold” rating in a report on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a report on Friday, September 29th. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $40.03.
Conagra Brands (NYSE:CAG) opened at 33.69 on Friday. The stock has a 50 day moving average of $34.00 and a 200 day moving average of $35.83. Conagra Brands has a 1-year low of $32.16 and a 1-year high of $48.86. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 24.22 and a beta of 0.31.
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In other news, EVP Colleen Batcheler sold 133,869 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CAG. Waldron LP bought a new position in Conagra Brands during the first quarter valued at about $216,000. Thrivent Financial For Lutherans boosted its stake in Conagra Brands by 13.2% during the first quarter. Thrivent Financial For Lutherans now owns 16,340 shares of the company’s stock valued at $659,000 after buying an additional 1,900 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Conagra Brands by 31.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,360,795 shares of the company’s stock valued at $54,894,000 after buying an additional 321,932 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Conagra Brands during the first quarter valued at about $110,000. Finally, Colonial Trust Advisors boosted its stake in Conagra Brands by 1.8% during the first quarter. Colonial Trust Advisors now owns 22,350 shares of the company’s stock valued at $838,000 after buying an additional 400 shares in the last quarter. 79.64% of the stock is owned by institutional investors and hedge funds.
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.
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