KLP Kapitalforvaltning AS Acquires Shares of 181,414 Conagra Brands, Inc. (NYSE:CAG)

KLP Kapitalforvaltning AS purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 181,414 shares of the company's stock, valued at approximately $5,034,000.

Several other hedge funds have also made changes to their positions in CAG. Grove Bank & Trust boosted its stake in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after acquiring an additional 501 shares during the last quarter. Xponance Inc. grew its holdings in Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after purchasing an additional 505 shares during the period. International Private Wealth Advisors LLC grew its holdings in Conagra Brands by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company's stock valued at $295,000 after purchasing an additional 527 shares during the period. Finally, ST Germain D J Co. Inc. increased its position in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock worth $55,000 after purchasing an additional 529 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price target 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. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Nine equities 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.20.

Conagra Brands Stock Up 0.4 %

CAG stock traded up $0.09 during trading on Friday, reaching $26.55. The stock had a trading volume of 5,047,931 shares, compared to its average volume of 5,060,410. 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 firm has a fifty day moving average price of $25.63 and a 200 day moving average price of $27.63. The company has a market capitalization of $12.67 billion, a P/E ratio of 26.03, a PEG 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.

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.