In a report released today, Nik Modi from RBC Capital maintained a Hold rating on Conagra Brands (CAG – Research Report), with a price target of $30.00. The company’s shares closed yesterday at $28.36.
According to TipRanks, Modi is a 5-star analyst with an average return of 6.6% and a 61.72% success rate. Modi covers the Consumer Defensive sector, focusing on stocks such as Duckhorn Portfolio, The Hershey Company, and Mondelez International.
Currently, the analyst consensus on Conagra Brands is a Hold with an average price target of $29.92, a 5.50% upside from current levels. In a report released today, Jefferies also reiterated a Hold rating on the stock with a $29.00 price target.
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Based on Conagra Brands’ latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $2.9 billion and a net profit of $319.7 million. In comparison, last year the company earned a revenue of $2.9 billion and had a GAAP net loss of $77.5 million
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CAG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Conagra Brands (CAG) Company Description:
Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Pinnacle Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States. The Refrigerated and Frozen segment comprises branded, temperature controlled food products sold in various retail channels in the United States. The International segment consists branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. The Foodservice segment focuses in the branded and customized food products, including meals, entrees, sauces, and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The Pinnacle Foods segment involves in the commercially branded and private label food and ingredients, in various temperature states, sold in various retail and foodservice channels in the United States and Canada. The company was founded by Alva Kinney and Frank Little in 1919 and is headquartered in Chicago, IL.
Read More on CAG:
- CONAGRA BRANDS ANNOUNCES QUARTERLY DIVIDEND PAYMENT
- Conagra Brands initiated with neutral view at Wells Fargo, here’s why
- Conagra Brands just downgraded at Evercore ISI, here’s why
- Evercore ISI gets more bearish on Conagra Brands, downgrades shares
- Conagra Brands Canada Introduces Bertolli® Frozen Skillet Meals to Help Canadians Bring the Italian Restaurant Experience Home
