Conagra Brands (NYSE:CAG) has been given a $40.00 price target by Credit Suisse Group in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 4.68% from the stock’s previous close.
Several other analysts also recently commented on the stock. Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, November 22nd. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Conagra Brands in a report on Tuesday, October 3rd. Finally, Morgan Stanley decreased their price objective on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.95.
Conagra Brands (NYSE:CAG) traded up $0.13 during mid-day trading on Monday, reaching $38.21. 1,890,332 shares of the company’s stock traded hands, compared to its average volume of 3,493,268. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.11 and a quick ratio of 0.54. The company has a market capitalization of $15,555.61, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.92 and a beta of 0.37. Conagra Brands has a 12 month low of $32.16 and a 12 month high of $41.68.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the completion of the sale, the executive vice president now directly owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its stake in shares of Conagra Brands by 3.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,360,630 shares of the company’s stock valued at $48,657,000 after buying an additional 50,134 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after buying an additional 1,705 shares in the last quarter. GAM Holding AG raised its stake in shares of Conagra Brands by 2.4% in the 2nd quarter. GAM Holding AG now owns 23,590 shares of the company’s stock valued at $844,000 after buying an additional 546 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Conagra Brands by 16.2% in the 2nd quarter. Victory Capital Management Inc. now owns 49,725 shares of the company’s stock valued at $1,778,000 after buying an additional 6,926 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Conagra Brands by 53.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 450,904 shares of the company’s stock valued at $16,126,000 after buying an additional 157,583 shares in the last quarter. 78.88% of the stock is owned by hedge funds and other institutional investors.
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About Conagra Brands
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.
