Morey & Quinn Wealth Partners LLC Purchases New Holdings in Conagra Brands, Inc. (NYSE:CAG)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, Holdings Channel reports. The fund acquired 19,675 shares of the company’s stock, valued at approximately $546,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock worth $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. State Street Corp raised its position in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after acquiring an additional 196,100 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $25.38 on Wednesday. The business has a 50 day simple moving average of $25.60 and a 200-day simple moving average of $27.73. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 24.88, 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAG shares. Barclays reduced their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Morgan Stanley began coverage on Conagra Brands in a report on Monday. They issued an “equal weight” rating and a $27.00 price target for the company. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.20.

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.