Conagra Brands (CAG) Given Buy Rating at Royal Bank of Canada
Conagra Brands (NYSE:CAG)‘s stock had its “buy” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday. They currently have a $46.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 27.74% from the stock’s previous close.
A number of other research analysts have also recently commented on the stock. Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th. UBS upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. Stifel Nicolaus raised their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Saturday, December 30th. Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.67.
Conagra Brands (NYSE:CAG) traded up $0.56 during midday trading on Friday, hitting $36.01. 1,470,993 shares of the company traded hands, compared to its average volume of 3,450,086. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.86. Conagra Brands has a twelve month low of $32.16 and a twelve month high of $41.03. The company has a market capitalization of $14,159.36, a PE ratio of 21.53, a PEG ratio of 2.23 and a beta of 0.32.
In other news, Director Joie A. Gregor sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total transaction of $877,447.90. Following the sale, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,670 shares of company stock valued at $1,276,868. Company insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vantage Investment Advisors LLC increased its holdings in shares of Conagra Brands by 625.7% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after buying an additional 2,578 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $114,000. Envestnet Asset Management Inc. increased its holdings in shares of Conagra Brands by 94.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after purchasing an additional 1,923 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $161,000. Finally, Strategic Financial Services Inc acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $203,000. 79.87% of the stock is owned by 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.
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