Conagra Brands (CAG) Rating Increased to Market Perform at Sanford C. Bernstein

Conagra Brands (NYSE:CAG) was upgraded by equities researchers at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued on Thursday.

CAG has been the subject of several other reports. UBS upgraded Conagra Brands from a “sell” rating to a “neutral” rating and increased their price target for the company from $33.00 to $37.00 in a report on Tuesday. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, November 22nd. Morgan Stanley lowered their price target on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, September 25th. Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered their price target on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $40.37.

Shares of Conagra Brands (NYSE CAG) opened at $37.76 on Thursday. Conagra Brands has a twelve month low of $32.16 and a twelve month high of $41.68. The company has a market capitalization of $15,118.51, a price-to-earnings ratio of 20.56, a PEG ratio of 2.79 and a beta of 0.37. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. research analysts predict that Conagra Brands will post 1.9 earnings per share for the current year.

In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the completion of the transaction, the executive vice president now directly owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Several hedge funds have recently modified their holdings of CAG. Janus Henderson Group PLC lifted its position in shares of Conagra Brands by 10,072.6% during the second quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock worth $219,711,000 after purchasing an additional 6,083,663 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Conagra Brands by 64.0% during the third quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock worth $402,810,000 after purchasing an additional 4,660,867 shares during the last quarter. AJO LP lifted its position in shares of Conagra Brands by 757.3% during the second quarter. AJO LP now owns 3,118,724 shares of the company’s stock worth $111,526,000 after purchasing an additional 2,754,930 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Conagra Brands by 49.8% during the second quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock worth $202,907,000 after purchasing an additional 1,886,614 shares during the last quarter. Finally, Numeric Investors LLC lifted its position in shares of Conagra Brands by 75.2% during the second quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock worth $110,034,000 after purchasing an additional 1,321,100 shares during the last quarter. 79.03% of the stock is currently owned by institutional investors and hedge funds.

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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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