Conagra Brands (NYSE:CAG) Price Target Cut to $14.00 by Analysts at JPMorgan Chase & Co.

Conagra Brands (NYSE:CAG) had its target price reduced by JPMorgan Chase & Co. from $17.00 to $14.00 in a research report released on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on CAG. Wall Street Zen upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. UBS Group dropped their price target on Conagra Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group dropped their price target on Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $14.67.

Conagra Brands Stock Performance

CAG stock opened at $13.03 on Friday. The business has a 50-day moving average price of $14.27 and a 200 day moving average price of $16.49. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $22.58. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The company has a market capitalization of $6.23 billion, a P/E ratio of -130.24 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the firm earned $0.51 EPS. Conagra Brands’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands will post 1.7 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 10.7%. The ex-dividend date was Thursday, April 30th. Conagra Brands’s payout ratio is presently -1,400.00%.

Insider Activity at Conagra Brands

In related news, Director Richard H. Lenny bought 25,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was acquired at an average cost of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. The trade was a 12.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John J. Mulligan bought 17,500 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average cost of $14.31 per share, with a total value of $250,425.00. Following the completion of the purchase, the director directly owned 20,728 shares in the company, valued at approximately $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Conagra Brands

A number of hedge funds and other institutional investors have recently modified their holdings of CAG. NewEdge Advisors LLC increased its stake in shares of Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after acquiring an additional 954 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Conagra Brands during the 1st quarter worth $225,000. Empowered Funds LLC grew its holdings in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after purchasing an additional 2,038 shares during the period. Woodline Partners LP grew its holdings in shares of Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after purchasing an additional 11,664 shares during the period. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Conagra Brands by 3.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,900 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Conagra Brands

Here are the key news stories impacting Conagra Brands this week:

• Positive Sentiment: JPMorgan cut its price target on Conagra Brands to $14 from $17, but that still implies modest upside from the current share price, suggesting some analysts see room for a rebound. Conagra Brands (CAG) Valuation Check After Guidance Cut And Analyst Downgrades
• Positive Sentiment: Articles highlighting high-dividend consumer staples names may support interest in Conagra as an income stock, which can help limit downside in a defensive market. Wall Street’s most accurate analysts give their take on 3 consumer staples stocks delivering high-dividend yields
• Neutral Sentiment: Some recent commentary notes that analyst sentiment on Conagra is mixed, with conflicting views rather than a clear consensus on the stock. Analysts Have Conflicting Sentiments on These Consumer Goods Companies: Conagra Brands (CAG) and Stride (LRN)
• Negative Sentiment: Sanford C. Bernstein reiterated an underperform rating and cut its price target to $12 from $16, signaling concern about Conagra’s outlook after recent guidance pressure. Conagra Brands (CAG) Faces Mounting Challenges as Bernstein Cuts Rating and Price Target
• Negative Sentiment: Morgan Stanley also lowered its target to $13 from $15 and maintained an equal weight rating, adding to the wave of cautious analyst revisions. Morgan Stanley Adjusts Conagra Brands Price Target to 13 From 15

Conagra Brands Company Profile

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.