AGF Management Ltd. Acquires New Holdings in Conagra Brands, Inc. (NYSE:CAG)

AGF Management Ltd. purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 95,363 shares of the company's stock, valued at approximately $2,646,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% in the 3rd 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 in the last quarter. Two Sigma Advisers LP increased its stake in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company's stock worth $197,624,000 after buying an additional 3,133,200 shares during the last quarter. Holocene Advisors LP acquired a new stake in Conagra Brands in the third quarter valued at $65,932,000. State Street Corp boosted its stake in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in Conagra Brands during the 3rd quarter worth $46,990,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

CAG stock traded up $0.45 during mid-day trading on Monday, reaching $26.10. The company had a trading volume of 4,374,077 shares, compared to its average volume of 4,768,344. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The stock has a market capitalization of $12.46 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock's 50-day simple moving average is $25.68 and its two-hundred day simple moving average is $28.03.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on CAG shares. Stifel Nicolaus reduced 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. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.33.

Conagra Brands Company 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.