Advisors Asset Management Inc. Buys 68,684 Shares of Conagra Brands, Inc. (NYSE:CAG)

Advisors Asset Management Inc. grew its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 48.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,736 shares of the company's stock after acquiring an additional 68,684 shares during the period. Advisors Asset Management Inc.'s holdings in Conagra Brands were worth $5,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brookstone Capital Management raised its holdings in Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock worth $1,196,000 after purchasing an additional 19,329 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares during the period. Nordea Investment Management AB boosted its position in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after purchasing an additional 618,096 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently issued reports on CAG. Morgan Stanley initiated coverage on shares of Conagra Brands in a report on Monday. They set an "equal weight" rating and a $27.00 price objective for the company. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, December 11th. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.20.

Conagra Brands Price Performance

CAG stock traded up $0.08 during trading on Monday, hitting $25.76. The company had a trading volume of 5,538,424 shares, compared to its average volume of 4,834,814. The company has a fifty day moving average price of $25.62 and a two-hundred day moving average price of $27.83. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a market cap of $12.29 billion, a P/E ratio of 25.25, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.