Conagra Brands (CAG) Raised to Neutral at UBS
Conagra Brands (NYSE:CAG) was upgraded by investment analysts at UBS from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday.
CAG has been the topic of several other research reports. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, November 22nd. Morgan Stanley cut their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Credit Suisse Group cut their price target on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Finally, Jefferies Group reiterated a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Conagra Brands presently has a consensus rating of “Buy” and a consensus price target of $40.03.
Conagra Brands (CAG) opened at $37.24 on Tuesday. The stock has a market cap of $15,216.55, a PE ratio of 20.69, a PEG ratio of 2.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51. Conagra Brands has a one year low of $32.16 and a one year high of $41.68.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. sell-side analysts expect that Conagra Brands will post 1.89 earnings per share for the current fiscal year.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $34.28, for a total transaction of $4,589,029.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CAG. Sun Life Financial INC grew its stake in shares of Conagra Brands by 32,666.7% during the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after acquiring an additional 2,940 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Conagra Brands by 143.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after acquiring an additional 1,851 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Conagra Brands by 57.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock worth $168,000 after acquiring an additional 1,705 shares in the last quarter. Krilogy Financial LLC grew its stake in shares of Conagra Brands by 7.7% during the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after acquiring an additional 370 shares in the last quarter. Finally, Evercore Wealth Management LLC grew its stake in shares of Conagra Brands by 12.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after acquiring an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.
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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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