Millennium Management LLC decreased its holdings in Conagra Brands (NYSE:CAG) by 59.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,156,125 shares of the company’s stock after selling 4,598,437 shares during the quarter. Millennium Management LLC owned approximately 0.79% of Conagra Brands worth $118,891,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Advisor Partners LLC raised its stake in Conagra Brands by 11.7% during the fourth quarter. Advisor Partners LLC now owns 13,388 shares of the company’s stock valued at $506,000 after buying an additional 1,399 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of Conagra Brands by 2.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 70,357 shares of the company’s stock worth $2,373,000 after purchasing an additional 1,482 shares during the period. Captrust Financial Advisors raised its position in shares of Conagra Brands by 7.0% during the 3rd quarter. Captrust Financial Advisors now owns 23,744 shares of the company’s stock worth $801,000 after purchasing an additional 1,556 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Conagra Brands by 6.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 26,686 shares of the company’s stock worth $1,005,000 after purchasing an additional 1,676 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Conagra Brands by 1.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 114,987 shares of the company’s stock worth $3,880,000 after purchasing an additional 1,678 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.
CAG opened at $36.74 on Friday. The firm has a market capitalization of $14,828.46, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.28. Conagra Brands has a 12-month low of $32.16 and a 12-month high of $41.03. The company has a quick ratio of 0.52, a current ratio of 1.03 and a debt-to-equity ratio of 0.85.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.05. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2 billion. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. sell-side analysts anticipate that Conagra Brands will post 2.05 EPS for the current fiscal year.
A number of analysts have recently weighed in on CAG shares. Credit Suisse Group set a $40.00 price target on Conagra Brands and gave the stock a “hold” rating in a research report on Monday, December 25th. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of Conagra Brands in a report on Friday, March 23rd. Stifel Nicolaus increased their price target on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $44.00 price target on shares of Conagra Brands in a research note on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.67.
In related news, SVP Robert G. Wise sold 5,908 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the sale, the senior vice president now directly owns 22,781 shares in the company, valued at $845,630.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction on Monday, March 26th. The stock was sold at an average price of $35.86, for a total value of $216,809.56. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
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Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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