Conagra Brands (NYSE:CAG) received a $40.00 price objective from research analysts at Credit Suisse Group in a research note issued to investors on Monday. The brokerage currently has a “hold” rating on the stock. Credit Suisse Group’s price objective indicates a potential upside of 5.04% from the company’s previous close.
A number of other research firms have also weighed in on CAG. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Conagra Brands in a research report on Friday, September 29th. Stifel Nicolaus upped their target price on shares of Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.95.
Shares of Conagra Brands (NYSE CAG) traded up $0.23 during midday trading on Monday, hitting $38.08. 2,880,900 shares of the stock traded hands, compared to its average volume of 3,499,758. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.11 and a quick ratio of 0.54. The stock has a market cap of $15,555.61, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.92 and a beta of 0.37. Conagra Brands has a 52-week low of $32.16 and a 52-week high of $41.68.
In related news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the completion of the sale, the executive vice president now owns 211,514 shares of the company’s stock, valued at $7,931,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. IndexIQ Advisors LLC raised its holdings in shares of Conagra Brands by 0.4% during the second quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock worth $352,000 after purchasing an additional 36 shares during the last quarter. Synovus Financial Corp grew its position in Conagra Brands by 1.8% during the second quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock valued at $318,000 after buying an additional 155 shares during the period. MML Investors Services LLC grew its position in Conagra Brands by 0.8% during the second quarter. MML Investors Services LLC now owns 27,246 shares of the company’s stock valued at $974,000 after buying an additional 222 shares during the period. Intact Investment Management Inc. grew its position in Conagra Brands by 3.4% during the second quarter. Intact Investment Management Inc. now owns 9,200 shares of the company’s stock valued at $329,000 after buying an additional 300 shares during the period. Finally, Veritable L.P. grew its position in Conagra Brands by 0.7% during the second quarter. Veritable L.P. now owns 48,947 shares of the company’s stock valued at $1,750,000 after buying an additional 320 shares during the period. 78.88% of the stock is owned by institutional investors.
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.
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