Conagra Brands (NYSE:CAG) Receives Average Recommendation of “Reduce” from Analysts

Conagra Brands (NYSE:CAG) has been assigned a consensus recommendation of “Reduce” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.2857.

A number of research analysts have commented on CAG shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Conagra Brands in a research report on Wednesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Sanford C. Bernstein decreased their price objective on shares of Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group dropped their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently modified their holdings of CAG. State Street Corp lifted its stake in Conagra Brands by 2.3% during the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after acquiring an additional 588,435 shares in the last quarter. Invesco Ltd. boosted its holdings in Conagra Brands by 13.3% during the 4th quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock valued at $305,829,000 after acquiring an additional 2,079,903 shares during the period. Dimensional Fund Advisors LP grew its position in Conagra Brands by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,622,165 shares of the company’s stock valued at $305,044,000 after acquiring an additional 2,948,081 shares in the last quarter. Morgan Stanley increased its stake in Conagra Brands by 18.5% during the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock worth $263,624,000 after purchasing an additional 2,376,823 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Conagra Brands by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock worth $222,113,000 after purchasing an additional 1,984,873 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE CAG opened at $15.72 on Tuesday. The stock has a fifty day simple moving average of $17.90 and a 200-day simple moving average of $17.80. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.52 billion, a PE ratio of -71.45 and a beta of -0.02. Conagra Brands has a twelve month low of $15.03 and a twelve month high of $27.68.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.