Conagra Brands, Inc. (NYSE:CAG) Holdings Cut by Tredje AP fonden

Tredje AP fonden decreased its stake in Conagra Brands, Inc. (NYSE:CAG) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,325 shares of the company’s stock after selling 71,324 shares during the quarter. Tredje AP fonden’s holdings in Conagra Brands were worth $1,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter worth $28,000. Riverview Trust Co acquired a new position in shares of Conagra Brands during the 4th quarter worth $29,000. Grove Bank & Trust increased its stake in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands during the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup lowered their target price 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, JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Stock Performance

NYSE CAG opened at $25.66 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.76 and a beta of 0.18. The company’s fifty day moving average is $25.68 and its two-hundred day moving average is $28.08. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

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.