Prudential Financial Inc. Purchases 371,481 Shares of Conagra Brands, Inc. (NYSE:CAG)

Prudential Financial Inc. raised its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 28.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,674,848 shares of the company's stock after buying an additional 371,481 shares during the quarter. Prudential Financial Inc. owned approximately 0.35% of Conagra Brands worth $46,477,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust increased its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares during the period. CIBC Asset Management Inc boosted its holdings 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 valued at $2,346,000 after acquiring an additional 501 shares in the last quarter. Xponance Inc. boosted its stake in Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after purchasing an additional 505 shares in the last quarter. International Private Wealth Advisors LLC boosted its stake in Conagra Brands by 5.2% during the 4th 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 in the last quarter. Finally, ST Germain D J Co. Inc. increased its position in shares of Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock valued at $55,000 after purchasing an additional 529 shares during the period. 83.75% of the stock is currently owned by institutional investors.

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Conagra Brands Stock Performance

Shares of Conagra Brands stock traded up $0.09 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 debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The business's 50-day moving average price is $25.63 and its two-hundred day moving average price is $27.60. The stock has a market cap of $12.67 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAG shares. Barclays dropped their price target on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company decreased their price objective on shares of 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. Stifel Nicolaus reduced their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.20.

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.