Moors & Cabot Inc. Purchases New Shares in Conagra Brands, Inc. (NYSE:CAG)

Moors & Cabot Inc. acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,060 shares of the company’s stock, valued at approximately $584,000.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $29,000. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in Conagra Brands during the fourth quarter worth $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Stock Down 0.6 %

CAG opened at $25.66 on Friday. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a market cap of $12.25 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $25.68 and a 200 day moving average of $28.08.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

About Conagra Brands

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.