Wealthfront Advisers LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,419 shares of the company's stock after selling 89,360 shares during the period. Wealthfront Advisers LLC's holdings in Conagra Brands were worth $3,036,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Brookstone Capital Management boosted its stake in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after purchasing an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock valued at $1,196,000 after buying an additional 19,329 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock valued at $2,175,000 after buying an additional 22,790 shares during the period. Nordea Investment Management AB boosted its stake 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 valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. 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 worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.
Conagra Brands Stock Performance
Shares of CAG stock opened at $25.78 on Friday. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock's fifty day simple moving average is $25.76 and its 200-day simple moving average is $28.13.
Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently weighed in on CAG. 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 report on Friday, December 20th. Barclays reduced their target price 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 reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Citigroup 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 Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.33.
Get Our Latest Report on CAG
Conagra Brands Profile
(
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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