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RBC Capital Sticks to Its Hold Rating for Conagra Brands (CAG)

In a report issued on July 15, Nik Modi from RBC Capital maintained a Hold rating on Conagra Brands (CAGResearch Report), with a price target of $35.00. The company’s shares closed last Monday at $33.41.

According to TipRanks.com, Modi is a 5-star analyst with an average return of 8.4% and a 61.5% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Reynolds Consumer Products, and Spectrum Brands Holdings.

Conagra Brands has an analyst consensus of Hold, with a price target consensus of $34.17, a 1.3% upside from current levels. In a report issued on July 8, UBS also maintained a Hold rating on the stock with a $35.00 price target.

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The company has a one-year high of $36.97 and a one-year low of $30.06. Currently, Conagra Brands has an average volume of 4.26M.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CAG in relation to earlier this year. Most recently, in April 2022, Thomas M. McGough, the EVP & Co-COO of CAG sold 25,400 shares for a total of $938,530.

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.

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