Conagra Brands $CAG Shares Acquired by IFP Advisors Inc

IFP Advisors Inc grew its holdings in Conagra Brands (NYSE:CAG) by 32.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 209,446 shares of the company’s stock after acquiring an additional 50,776 shares during the quarter. IFP Advisors Inc’s holdings in Conagra Brands were worth $3,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands in the second quarter valued at approximately $26,000. True Wealth Design LLC raised its holdings in Conagra Brands by 844.4% during the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after purchasing an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Conagra Brands during the second quarter worth approximately $29,000. Spire Wealth Management lifted its position in shares of Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after buying an additional 1,230 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 1.1%

CAG stock opened at $15.40 on Friday. The company has a fifty day moving average price of $18.12 and a 200 day moving average price of $18.00. Conagra Brands has a 12 month low of $15.31 and a 12 month high of $27.68. The company has a market cap of $7.36 billion, a price-to-earnings ratio of -69.98 and a beta of -0.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. Conagra Brands’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

CAG has been the topic of a number of recent analyst reports. Bank of America dropped their target price on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Monday, December 22nd. The Goldman Sachs Group reduced their price target on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. Royal Bank Of Canada cut their target price on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, December 22nd. Finally, UBS Group reissued a “neutral” rating and issued a $20.00 target price on shares of Conagra Brands in a report on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $18.71.

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.