PNC Financial Services Group Inc. Has $4.62 Million Position in Conagra Brands, Inc. (NYSE:CAG)

PNC Financial Services Group Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,478 shares of the company's stock after selling 23,642 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Conagra Brands were worth $4,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company's stock valued at $796,229,000 after buying an additional 1,691,945 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock valued at $373,180,000 after buying an additional 196,100 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after buying an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Conagra Brands by 2.0% in 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 buying an additional 122,590 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the subject of several research analyst reports. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Citigroup reduced their target price 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. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Finally, Wells Fargo & Company reduced their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $28.33.

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Conagra Brands Price Performance

Shares of CAG opened at $25.93 on Thursday. The firm has a market capitalization of $12.37 billion, a PE ratio of 25.42, a PEG ratio of 1.76 and a beta of 0.18. The company's 50-day moving average is $25.76 and its 200-day moving average is $28.13. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

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

About Conagra Brands

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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