Cibc World Markets Corp Acquires 24,110 Shares of Conagra Brands, Inc. (NYSE:CAG)

Cibc World Markets Corp boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,275 shares of the company’s stock after acquiring an additional 24,110 shares during the period. Cibc World Markets Corp’s holdings in Conagra Brands were worth $5,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. OneDigital Investment Advisors LLC acquired a new position in Conagra Brands in the 3rd quarter valued at $224,000. Thrivent Financial for Lutherans grew its holdings in Conagra Brands by 13.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock valued at $1,088,000 after buying an additional 3,867 shares in the last quarter. Swiss National Bank grew its holdings in Conagra Brands by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,419,312 shares of the company’s stock valued at $46,156,000 after buying an additional 3,900 shares in the last quarter. Caprock Group LLC grew its holdings in Conagra Brands by 32.9% in the 3rd quarter. Caprock Group LLC now owns 26,971 shares of the company’s stock valued at $877,000 after buying an additional 6,677 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new position in Conagra Brands in the 3rd quarter valued at $360,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.91 on Thursday. The stock’s 50-day simple moving average is $25.64 and its 200 day simple moving average is $27.94. The firm has a market capitalization of $12.36 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. 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 twelve month low of $23.06 and a twelve month high of $33.24.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on CAG shares. Wells Fargo & Company decreased their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Citigroup reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Barclays reduced their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.