Swedbank AB Sells 52,900 Shares of Conagra Brands $CAG

Swedbank AB lessened its holdings in Conagra Brands (NYSE:CAG) by 72.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,400 shares of the company’s stock after selling 52,900 shares during the period. Swedbank AB’s holdings in Conagra Brands were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CAG. Bell Investment Advisors Inc boosted its stake in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after acquiring an additional 1,029 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Conagra Brands during the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. lifted its holdings in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Conagra Brands in the 2nd quarter worth approximately $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Conagra Brands in the 3rd quarter worth approximately $33,000. 83.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Conagra Brands news, Director Richard H. Lenny purchased 25,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the transaction, the director owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John J. Mulligan purchased 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the purchase, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

Conagra Brands Price Performance

NYSE CAG traded up $0.46 during trading on Friday, hitting $13.83. 11,360,613 shares of the stock traded hands, compared to its average volume of 22,403,042. The company has a market capitalization of $6.62 billion, a P/E ratio of -138.28 and a beta of -0.02. The firm has a 50-day simple moving average of $13.60 and a 200-day simple moving average of $15.81. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Sanford C. Bernstein reissued an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. UBS Group dropped their target price on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, June 18th. Finally, Evercore reduced their price target on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Reduce” and a consensus target price of $14.00.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.