QS Investors LLC cut its holdings in Conagra Brands Inc (NYSE:CAG) by 32.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 132,209 shares of the company’s stock after selling 64,858 shares during the quarter. QS Investors LLC’s holdings in Conagra Brands were worth $4,980,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CAG. Victory Capital Management Inc. increased its position in Conagra Brands by 482.0% in the third quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after purchasing an additional 239,667 shares during the period. BNP Paribas Arbitrage SA increased its position in Conagra Brands by 57.8% in the third quarter. BNP Paribas Arbitrage SA now owns 321,622 shares of the company’s stock worth $10,852,000 after purchasing an additional 117,864 shares during the period. Sei Investments Co. increased its position in Conagra Brands by 33.4% in the third quarter. Sei Investments Co. now owns 203,639 shares of the company’s stock worth $6,870,000 after purchasing an additional 50,960 shares during the period. Retirement Systems of Alabama increased its position in Conagra Brands by 2.9% in the third quarter. Retirement Systems of Alabama now owns 201,655 shares of the company’s stock worth $6,804,000 after purchasing an additional 5,663 shares during the period. Finally, CIBC Asset Management Inc increased its position in Conagra Brands by 3.7% in the third quarter. CIBC Asset Management Inc now owns 51,210 shares of the company’s stock worth $1,728,000 after purchasing an additional 1,806 shares during the period. Institutional investors own 79.91% of the company’s stock.
Conagra Brands Inc (NYSE:CAG) opened at $37.46 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.86. Conagra Brands Inc has a 1-year low of $32.16 and a 1-year high of $41.65. The stock has a market capitalization of $15,237.13, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.32.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. sell-side analysts expect that Conagra Brands Inc will post 1.96 EPS for the current year.
In other Conagra Brands news, SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $37.87, for a total transaction of $877,447.90. Following the transaction, the senior vice president now owns 51,859 shares in the company, valued at $1,963,900.33. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joie A. Gregor sold 5,250 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,670 shares of company stock worth $1,276,868. Company insiders own 0.79% of the company’s stock.
A number of brokerages recently commented on CAG. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, November 22nd. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. Stifel Nicolaus lifted their price objective on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Finally, Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the stock a “hold” rating in a research report on Monday, December 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $40.50.
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About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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