Northwest & Ethical Investments L.P. acquired a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,276 shares of the company's stock, valued at approximately $1,173,000.
Several other hedge funds and other institutional investors have also modified their holdings of CAG. Brookstone Capital Management lifted its position in Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock worth $11,085,000 after acquiring an additional 62,187 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock worth $1,196,000 after purchasing an additional 19,329 shares during the period. State of Alaska Department of Revenue lifted its holdings in Conagra Brands by 41.0% during the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares during the last quarter. Nordea Investment Management AB boosted its stake in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after purchasing an additional 618,096 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in Conagra Brands by 13.2% in the 4th quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after buying an additional 15,834 shares in the last quarter. Institutional investors own 83.75% of the company's stock.
Conagra Brands Price Performance
Shares of CAG traded up $0.57 during midday trading on Wednesday, hitting $25.92. The company's stock had a trading volume of 5,376,678 shares, compared to its average volume of 4,841,342. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company's fifty day simple moving average is $25.60 and its two-hundred day simple moving average is $27.73.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on CAG shares. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Citigroup cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Barclays cut their price target 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 lowered their price objective 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. Nine 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.20.
Check Out Our Latest Research 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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