Conagra Brands (NYSE:CAG) Stock Keeps “Sector Perform” Rating at Royal Bank Of Canada

Conagra Brands (NYSE:CAG)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $14.00 price objective on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 3.28% from the company’s previous close.

CAG has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Evercore set a $13.00 target price on shares of Conagra Brands in a research report on Tuesday, September 29th. Barclays lifted their price target on shares of Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Sanford C. Bernstein reissued an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, September 18th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Trading Up 2.8%

NYSE CAG traded up $0.37 during trading hours on Thursday, hitting $13.56. 7,312,043 shares of the company’s stock were exchanged, compared to its average volume of 15,000,113. The business’s 50 day moving average is $15.14 and its 200-day moving average is $14.53. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.39 and a current ratio of 1.10. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The firm has a market capitalization of $6.47 billion, a P/E ratio of -3.41 and a beta of 0.02.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Conagra Brands had a negative net margin of 16.95% and a positive return on equity of 11.46%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, analysts anticipate that Conagra Brands will post 1.46 EPS for the current fiscal year.

Institutional Trading of Conagra Brands

Several institutional investors have recently modified their holdings of CAG. Bell Investment Advisors Inc grew its holdings in Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after purchasing an additional 1,029 shares during the last quarter. Harbour Investments Inc. lifted its position in Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after acquiring an additional 701 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Conagra Brands by 339.7% during the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock valued at $31,000 after acquiring an additional 1,756 shares during the period. Ascentis Independent Advisors bought a new stake in Conagra Brands during the first quarter valued at about $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Conagra Brands in the second quarter valued at about $41,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc is a packaged food company headquartered in Chicago, Illinois. The company develops, produces and markets branded food products sold through grocery stores, mass merchandisers, club stores, convenience stores, foodservice operators and e-commerce channels.

Its portfolio includes frozen, refrigerated, grocery and snack products. Well-known brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Slim Jim, Hunt’s, Chef Boyardee, Orville Redenbacher’s, Vlasic, PAM and Angie’s BOOMCHICKAPOP.