Conagra Brands (CAG) Upgraded to “Market Perform” by Sanford C. Bernstein

Conagra Brands (NYSE:CAG) was upgraded by Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report released on Thursday.

CAG has been the topic of a number of other research reports. UBS raised Conagra Brands from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $37.00 in a research note on Tuesday. Zacks Investment Research raised 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 reduced their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 25th. Stifel Nicolaus raised Conagra Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. Finally, Credit Suisse Group reduced their price target on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.37.

Shares of Conagra Brands (NYSE:CAG) opened at $37.34 on Thursday. The company has a market capitalization of $15,339.10, a P/E ratio of 20.86, a PEG ratio of 2.83 and a beta of 0.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $41.68.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company earned $0.37 EPS. Conagra Brands’s revenue was down 4.8% on a year-over-year basis. research analysts expect that Conagra Brands will post 1.89 earnings per share for the current fiscal year.

In other news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC increased its holdings in Conagra Brands by 7.5% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock valued at $3,593,000 after purchasing an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in Conagra Brands by 1.2% in the 2nd quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock valued at $48,640,000 after purchasing an additional 16,143 shares in the last quarter. Alethea Capital Management LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at $3,610,000. Sciencast Management LP acquired a new stake in shares of Conagra Brands during the second quarter valued at about $1,262,000. Finally, Victory Capital Management Inc. grew its stake in shares of Conagra Brands by 482.0% during the third quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock valued at $9,764,000 after acquiring an additional 239,667 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.

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Conagra Brands Company Profile

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.

Analyst Recommendations for Conagra Brands (NYSE:CAG)

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