The Goldman Sachs Group Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target lowered by equities researchers at The Goldman Sachs Group from $18.00 to $16.00 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 9.74% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Conagra Brands from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. UBS Group lowered their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, September 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of Conagra Brands in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on Conagra Brands from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $21.50.

Conagra Brands Stock Up 1.2%

Shares of NYSE CAG opened at $17.73 on Monday. Conagra Brands has a 12-month low of $16.60 and a 12-month high of $28.69. The stock’s fifty day simple moving average is $18.04 and its two-hundred day simple moving average is $19.60. The stock has a market capitalization of $8.48 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.03. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Insider Activity

In related news, SVP Melissa C. Napier sold 13,011 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total transaction of $223,659.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Conagra Brands during the second quarter worth $2,489,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Conagra Brands in the second quarter worth about $10,465,000. Triton Financial Group Inc purchased a new stake in shares of Conagra Brands during the 2nd quarter worth about $690,000. Bleakley Financial Group LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter valued at about $356,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Conagra Brands by 6.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company’s stock valued at $6,926,000 after purchasing an additional 16,546 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.