Moors & Cabot Inc. Invests $584,000 in Conagra Brands, Inc. (NYSE:CAG)

Moors & Cabot Inc. bought a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,060 shares of the company's stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the period. Nordea Investment Management AB lifted its holdings in shares of 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 acquiring an additional 618,096 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Conagra Brands by 1.7% during the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock valued at $373,180,000 after acquiring an additional 196,100 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock valued at $204,571,000 after acquiring an additional 122,590 shares during the period. 83.75% of the stock is owned by institutional investors.

Remove Ads

Conagra Brands Trading Down 0.4 %

CAG stock traded down $0.10 during midday trading on Wednesday, reaching $25.91. The stock had a trading volume of 4,622,701 shares, compared to its average volume of 4,765,538. The business has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $27.96. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap 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 twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company's revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. As a group, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Citigroup cut their price objective 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 reissued a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Finally, The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Eight investment 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 stock has a consensus rating of "Hold" and an average price target of $28.33.

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.