Conagra Brands (NYSE:CAG) Price Target Lowered to $17.00 at JPMorgan Chase & Co.

Conagra Brands (NYSE:CAG) had its target price trimmed by JPMorgan Chase & Co. from $19.00 to $17.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Company restated an “underweight” rating and set a $15.00 target price (down from $20.00) on shares of Conagra Brands in a report on Thursday, March 12th. The Goldman Sachs Group reduced their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a report on Monday, November 24th. UBS Group reiterated a “neutral” rating and set a $20.00 price target on shares of Conagra Brands in a report on Friday, February 13th. Royal Bank Of Canada reduced their price objective on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Conagra Brands in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $18.57.

Conagra Brands Price Performance

Conagra Brands stock opened at $15.16 on Friday. Conagra Brands has a one year low of $15.06 and a one year high of $27.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The business has a fifty day moving average of $18.08 and a two-hundred day moving average of $17.97. The company has a market cap of $7.25 billion, a P/E ratio of -68.89 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the company posted $0.70 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of Conagra Brands

Several large investors have recently added to or reduced their stakes in CAG. Norges Bank bought a new stake in Conagra Brands during the 2nd quarter valued at $172,475,000. Two Sigma Investments LP grew its stake in shares of Conagra Brands by 239.6% in the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock worth $152,837,000 after purchasing an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Conagra Brands by 245.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares during the period. AQR Capital Management LLC increased its holdings in shares of Conagra Brands by 216.2% during the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock valued at $135,318,000 after purchasing an additional 5,100,424 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Conagra Brands by 241.9% during the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock valued at $108,313,000 after purchasing an additional 4,185,486 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.