Conagra Brands (CAG) PT Set at $40.00 by Credit Suisse Group

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.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. equities analysts forecast that Conagra Brands will post 1.86 EPS for the current fiscal year.

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.

TRADEMARK VIOLATION NOTICE: “Conagra Brands (CAG) PT Set at $40.00 by Credit Suisse Group” was first posted by Week Herald and is the sole property of of Week Herald. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://weekherald.com/2017/12/26/conagra-brands-cag-pt-set-at-40-00-by-credit-suisse-group.html.

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)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply