Stifel Nicolaus Issues Pessimistic Forecast for Conagra Brands (NYSE:CAG) Stock Price

Conagra Brands (NYSE:CAG) had its price target lowered by Stifel Nicolaus from $30.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.27% from the stock’s previous close.

A number of other research firms have also recently commented on CAG. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Up 1.1 %

Shares of NYSE:CAG traded up $0.29 on Friday, hitting $25.63. 507,078 shares of the company traded hands, compared to its average volume of 5,157,018. The company has a market cap of $12.23 billion, a PE ratio of 25.10, a PEG ratio of 1.72 and a beta of 0.29. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands has a 52 week low of $25.06 and a 52 week high of $33.24. The stock has a 50 day simple moving average of $27.08 and a 200-day simple moving average of $29.17.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s revenue was down .4% on a year-over-year basis. As a group, research analysts expect that Conagra Brands will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $28,000. Hexagon Capital Partners LLC lifted its stake in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares in the last quarter. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after acquiring an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

About Conagra Brands

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.