The Goldman Sachs Group Cuts Conagra Brands (NYSE:CAG) Price Target to $16.00

Conagra Brands (NYSE:CAG) had its price target lowered by The Goldman Sachs Group from $18.00 to $16.00 in a research note published on Monday morning, MarketBeat.com reports. The firm currently has a sell rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. assumed coverage on Conagra Brands in a research report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Conagra Brands from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $21.50.

Conagra Brands Stock Up 0.6%

Shares of Conagra Brands stock opened at $17.85 on Monday. Conagra Brands has a 12-month low of $16.60 and a 12-month high of $28.69. The firm has a market capitalization of $8.54 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.03. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average is $18.02 and its 200-day moving average is $19.58.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, October 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.8%. Conagra Brands’s payout ratio is presently 79.55%.

Insiders Place Their Bets

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total value of $223,659.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $172,475,000. Two Sigma Investments LP grew its holdings in Conagra Brands by 239.6% during the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after purchasing an additional 5,889,542 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Conagra Brands by 245.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares during the period. AQR Capital Management LLC lifted its stake in shares of Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after buying an additional 5,100,424 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Conagra Brands by 233.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after buying an additional 4,191,555 shares during the period. 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.