Tredje AP fonden lessened its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 50.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,325 shares of the company's stock after selling 71,324 shares during the period. Tredje AP fonden's holdings in Conagra Brands were worth $1,979,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands in the 4th quarter valued at about $28,000. Riverview Trust Co bought a new position in Conagra Brands in the 4th quarter valued at about $29,000. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands in the 4th quarter valued at about $44,000. Institutional investors own 83.75% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on CAG. Barclays cut their price target on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company cut 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 report on Tuesday, February 18th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands presently has an average rating of "Hold" and an average target price of $28.33.
Read Our Latest Stock Analysis on CAG
Conagra Brands Stock Down 0.4 %
Shares of NYSE CAG traded down $0.10 during mid-day trading on Wednesday, reaching $25.91. The company had a trading volume of 4,622,935 shares, compared to its average volume of 4,765,538. The stock has a fifty day moving average of $25.66 and a two-hundred day moving average of $27.96. 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 company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24.
Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm's revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.
About Conagra Brands
(
Free Report)
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.
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