Envestnet Portfolio Solutions Inc. Purchases 30,035 Shares of Conagra Brands, Inc. (NYSE:CAG)

Envestnet Portfolio Solutions Inc. raised its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 182.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,539 shares of the company's stock after purchasing an additional 30,035 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Conagra Brands were worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC purchased a new position in shares of Conagra Brands in the 3rd quarter valued at about $224,000. Thrivent Financial for Lutherans raised 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 last quarter. Prospera Financial Services Inc acquired a new stake in shares of Conagra Brands during the 3rd quarter worth about $360,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Conagra Brands during the third quarter worth $989,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Conagra Brands during the 3rd quarter worth about $1,112,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of CAG traded up $0.57 during mid-day trading on Wednesday, reaching $25.92. The company had a trading volume of 5,376,632 shares, compared to its average volume of 4,841,342. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 25.41, a P/E/G 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 company's 50 day simple moving average is $25.60 and its 200 day simple moving average is $27.73. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

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Analyst Upgrades and Downgrades

CAG has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Morgan Stanley started coverage on shares of Conagra Brands in a research report on Monday. They issued an "equal weight" rating and a $27.00 price target on the stock. Finally, Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Nine 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, the stock presently has a consensus rating of "Hold" and an average price target of $28.20.

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.