Swiss National Bank Has $37.42 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Swiss National Bank cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,348,312 shares of the company’s stock after selling 71,000 shares during the quarter. Swiss National Bank owned about 0.28% of Conagra Brands worth $37,416,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAG. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after acquiring an additional 3,133,200 shares during the last quarter. Holocene Advisors LP bought a new stake in Conagra Brands in the 3rd quarter valued at $65,932,000. State Street Corp boosted its stake in 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 during the period. Finally, Ilex Capital Partners UK LLP bought a new stake in Conagra Brands in the 3rd quarter valued at $46,990,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.66 on Monday. 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 company has a market cap of $12.25 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.76 and a beta of 0.18. The stock has a fifty day moving average price of $25.68 and a 200-day moving average price of $28.03.

Conagra Brands (NYSE:CAG) last announced 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. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company earned $0.71 EPS. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAG. Stifel Nicolaus reduced their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.