Berkeley Capital Partners LLC Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Berkeley Capital Partners LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,562 shares of the company's stock after selling 24,760 shares during the quarter. Berkeley Capital Partners LLC's holdings in Conagra Brands were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAG. OneDigital Investment Advisors LLC purchased a new stake in Conagra Brands during the 3rd quarter valued at $224,000. Thrivent Financial for Lutherans grew its holdings in shares of Conagra Brands by 13.1% in the third quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company's stock worth $1,088,000 after acquiring an additional 3,867 shares during the period. Swiss National Bank increased its position in Conagra Brands by 0.3% during the third quarter. Swiss National Bank now owns 1,419,312 shares of the company's stock valued at $46,156,000 after acquiring an additional 3,900 shares during the last quarter. Caprock Group LLC lifted its holdings in Conagra Brands by 32.9% in the third quarter. Caprock Group LLC now owns 26,971 shares of the company's stock valued at $877,000 after acquiring an additional 6,677 shares during the period. Finally, Prospera Financial Services Inc bought a new position in Conagra Brands in the third quarter valued at about $360,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.08 during trading hours on Monday, hitting $25.76. The company's stock had a trading volume of 5,538,424 shares, compared to its average volume of 4,834,815. The company has a market cap of $12.29 billion, a PE ratio of 25.25, a PEG ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The business has a 50 day moving average price of $25.61 and a two-hundred day moving average price of $27.78. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Barclays dropped their price target on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and lowered their target price for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.20.

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.