Generali Asset Management SPA SGR purchased a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 152,229 shares of the company's stock, valued at approximately $4,224,000.
Several other large investors have also modified their holdings of the business. Brookstone Capital Management lifted its stake in Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position 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 acquiring an additional 19,329 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Conagra Brands by 41.0% during 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 acquiring an additional 22,790 shares during the last quarter. Nordea Investment Management AB increased its position in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in 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 during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on CAG shares. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Barclays dropped their target price on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.33.
Read Our Latest Report on Conagra Brands
Conagra Brands Trading Down 1.0 %
CAG traded down $0.26 on Friday, reaching $25.65. 21,562,494 shares of the company's stock were exchanged, compared to its average volume of 4,831,995. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The company's 50 day moving average is $25.62 and its 200-day moving average is $27.86. 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 cap of $12.24 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.76 and a beta of 0.18.
Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.70 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 business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $0.71 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share 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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