Stone Ridge Asset Management LLC Acquires New Stake in Conagra Brands (NYSE:CAG)

Stone Ridge Asset Management LLC purchased a new position in shares of Conagra Brands (NYSE:CAG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 39,161 shares of the company’s stock, valued at approximately $1,475,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAG. Advisor Partners LLC lifted its stake in Conagra Brands by 11.7% in 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 lifted its position in shares of Conagra Brands by 2.2% in the third 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 in the last quarter. Captrust Financial Advisors lifted its position in shares of Conagra Brands by 7.0% in the third quarter. Captrust Financial Advisors now owns 23,744 shares of the company’s stock worth $801,000 after purchasing an additional 1,556 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Conagra Brands by 6.7% in the fourth 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 in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Conagra Brands by 1.5% in the third 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 in the last quarter. Hedge funds and other institutional investors own 79.88% of the company’s stock.

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Several research firms have issued reports on CAG. Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research report on Monday, December 25th. Stifel Nicolaus upped their price target on shares of 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 upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. UBS raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. Finally, Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.67.

In related news, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $35.86, for a total value of $216,809.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert G. Wise sold 5,908 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total value of $219,304.96. Following the completion of the sale, the senior vice president now owns 22,781 shares of the company’s stock, valued at approximately $845,630.72. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Shares of NYSE:CAG opened at $36.74 on Friday. The firm has a market cap of $14,828.46, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.26 and a beta of 0.28. Conagra Brands has a 1-year low of $32.16 and a 1-year high of $41.03. The company has a current ratio of 1.03, a quick ratio of 0.52 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the business posted $0.48 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts forecast that Conagra Brands will post 2.05 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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