Conagra Brands (NYSE:CAG) Lowered to Neutral Rating by The Goldman Sachs Group

Conagra Brands (NYSE:CAG) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. They currently have a $26.00 price target on the stock, down from their previous price target of $33.00. The Goldman Sachs Group’s price target indicates a potential upside of 0.72% from the company’s current price.

Several other brokerages have also commented on CAG. Stifel Nicolaus cut their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Bank of America decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $28.67.

Conagra Brands Stock Up 3.9 %

CAG stock opened at $25.82 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.76 and a beta of 0.28. The company’s 50 day moving average price is $26.15 and its 200 day moving average price is $28.52.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Conagra Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of CAG. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Norges Bank acquired a new position in Conagra Brands during the fourth quarter worth about $168,877,000. Massachusetts Financial Services Co. MA purchased a new position in Conagra Brands in the fourth quarter valued at about $110,704,000. Two Sigma Advisers LP lifted its position in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares during the period. Finally, Holocene Advisors LP purchased a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $65,932,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.