Jefferies Thinks Conagra Brands’ Stock is Going to Recover

By Austin Angelo

Jefferies analyst Robert Dickerson maintained a Buy rating on Conagra Brands (CAGResearch Report) on August 23. The company’s shares closed last Friday at $33.09, close to its 52-week low of $32.25.

According to TipRanks.com, Dickerson is a 4-star analyst with an average return of 8.0% and a 62.2% success rate. Dickerson covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Lamb Weston Holdings, and McCormick & Company.

Currently, the analyst consensus on Conagra Brands is a Moderate Buy with an average price target of $36.88.

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Conagra Brands’ market cap is currently $15.89B and has a P/E ratio of 12.40. The company has a Price to Book ratio of -2.28.

Based on the recent corporate insider activity of 51 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, 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.