Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Conagra Brands (NYSE:CAG)

Royal Bank Of Canada reissued their sector perform rating on shares of Conagra Brands (NYSE:CAG) in a report published on Thursday,Benzinga reports. Royal Bank Of Canada currently has a $22.00 price target on the stock.

Several other equities analysts have also recently issued reports on the stock. Bank of America cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Evercore ISI dropped their target price on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Wednesday, September 24th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a “market perform” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. initiated coverage on Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Conagra Brands has an average rating of “Reduce” and an average price target of $21.92.

Conagra Brands Stock Performance

Shares of CAG opened at $19.12 on Thursday. The business’s fifty day simple moving average is $18.97 and its two-hundred day simple moving average is $21.57. The company has a current ratio of 1.06, a quick ratio of 0.24 and a debt-to-equity ratio of 0.81. Conagra Brands has a 12 month low of $17.89 and a 12 month high of $30.47. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.83 and a beta of 0.03.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 7.3%. Conagra Brands’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Conagra Brands by 1.6% during the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after purchasing an additional 966,031 shares in the last quarter. State Street Corp raised its stake in shares of Conagra Brands by 2.3% in the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after buying an additional 588,435 shares during the period. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock worth $262,405,000 after buying an additional 193,829 shares during the period. Invesco Ltd. lifted its position in shares of Conagra Brands by 4.7% during the 2nd quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock valued at $254,117,000 after buying an additional 554,125 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Conagra Brands by 69.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock valued at $207,685,000 after acquiring an additional 4,160,542 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Company Profile

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.