Skandinaviska Enskilda Banken AB publ lifted its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,220 shares of the company’s stock after purchasing an additional 11,414 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.08% of Conagra Brands worth $10,884,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of CAG. Pacer Advisors Inc. increased its stake in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Conagra Brands in the 3rd quarter valued at about $65,932,000. State Street Corp increased its stake in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in shares of Conagra Brands in the 3rd quarter valued at about $46,990,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CAG. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Stifel Nicolaus lowered their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Bank of America lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective 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, Barclays lowered their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Eight 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.33.
Conagra Brands Trading Down 0.6 %
Shares of Conagra Brands stock opened at $25.66 on Friday. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.76 and a beta of 0.18. 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 quick ratio of 0.22 and a current ratio of 0.70. The stock has a 50 day moving average of $25.68 and a 200 day moving average of $28.08.
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, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.
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.
Featured Articles
- Five stocks we like better than Conagra Brands
- 5 Top Rated Dividend Stocks to Consider
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- 3 Dividend Kings To Consider
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- What is a Low P/E Ratio and What Does it Tell Investors?
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAG – Free Report).
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.