Advisors Asset Management Inc. Increases Holdings in Conagra Brands, Inc. (NYSE:CAG)

Advisors Asset Management Inc. lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 48.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,736 shares of the company’s stock after purchasing an additional 68,684 shares during the quarter. Advisors Asset Management Inc.’s holdings in Conagra Brands were worth $5,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of CAG. Kennondale Capital Management LLC purchased a new position in Conagra Brands during the fourth quarter valued at $331,000. Cibc World Markets Corp lifted its holdings in shares of Conagra Brands by 14.8% in the 4th quarter. Cibc World Markets Corp now owns 187,275 shares of the company’s stock valued at $5,197,000 after acquiring an additional 24,110 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Conagra Brands by 182.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 46,539 shares of the company’s stock worth $1,291,000 after buying an additional 30,035 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Conagra Brands by 120.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 19,961 shares of the company’s stock valued at $554,000 after buying an additional 10,914 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Conagra Brands by 114.5% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock valued at $53,478,000 after buying an additional 1,028,631 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CAG shares. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Eight equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.33.

Conagra Brands Trading Down 0.4 %

CAG opened at $25.91 on Thursday. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The business’s 50 day moving average is $25.64 and its two-hundred day moving average is $27.94. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, research analysts predict 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.