Summit Global Investments bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 241,906 shares of the company's stock, valued at approximately $6,713,000. Summit Global Investments owned about 0.05% of Conagra Brands at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. State Street Corp boosted its stake in Conagra Brands by 7.4% during 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 during the last quarter. Nordea Investment Management AB raised its holdings in shares of Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after acquiring an additional 618,096 shares during the period. Geode Capital Management LLC boosted its position in shares of Conagra Brands by 1.7% during the 3rd 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 last quarter. Hotchkis & Wiley Capital Management LLC grew 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 purchasing an additional 122,590 shares during the period. Finally, Two Sigma Advisers LP increased its position in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company's stock worth $197,624,000 after purchasing an additional 3,133,200 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on CAG shares. Wells Fargo & Company decreased their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Morgan Stanley started coverage on Conagra Brands in a research report on Monday. They issued an "equal weight" rating and a $27.00 price objective for the company. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Finally, Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Nine equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.20.
Check Out Our Latest Stock Analysis on Conagra Brands
Conagra Brands Trading Up 2.3 %
CAG traded up $0.57 during mid-day trading on Wednesday, hitting $25.92. 5,376,703 shares of the stock were exchanged, compared to its average volume of 4,841,342. The firm's fifty day moving average is $25.60 and its two-hundred day moving average is $27.73. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a market cap of $12.37 billion, a PE ratio of 25.41, 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.
Conagra Brands Profile
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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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