Skandinaviska Enskilda Banken AB publ Grows Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Skandinaviska Enskilda Banken AB publ lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) 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) 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.