Proficio Capital Partners LLC Invests $2.04 Million in Conagra Brands, Inc. (NYSE:CAG)

Proficio Capital Partners LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 73,343 shares of the company's stock, valued at approximately $2,035,000.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. lifted its stake 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 worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company's stock worth $197,624,000 after buying an additional 3,133,200 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Conagra Brands in the third quarter worth approximately $65,932,000. State Street Corp lifted its stake 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 worth $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new position in Conagra Brands during the third quarter valued at approximately $46,990,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

CAG stock traded down $0.26 during midday trading on Friday, reaching $25.65. 21,562,494 shares of the company's stock traded hands, compared to its average volume of 4,831,995. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The stock has a market cap of $12.24 billion, a P/E ratio of 25.14, a PEG ratio of 1.76 and a beta of 0.18. 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 stock's 50-day moving average is $25.62 and its 200 day moving average is $27.86.

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Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (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 analysts' expectations 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 for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Eight research 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.33.

Conagra Brands 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.