Belpointe Asset Management LLC bought a new stake in shares of Conagra Brands (NYSE:CAG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,986 shares of the company’s stock, valued at approximately $489,000.
Other institutional investors have also added to or reduced their stakes in the company. Vantage Investment Advisors LLC lifted its position in Conagra Brands by 625.7% during the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares during the period. NuWave Investment Management LLC bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $114,000. Meeder Asset Management Inc. bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $161,000. Strategic Financial Services Inc bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $203,000. Finally, Iberiabank Corp bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $207,000. Institutional investors own 79.88% of the company’s stock.
A number of brokerages have recently commented on CAG. UBS upped their price target on Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, March 23rd. Zacks Investment Research cut Conagra Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. JPMorgan Chase lowered their price target on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, March 23rd. Stifel Nicolaus upped their price target on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $44.00 price target on shares of Conagra Brands in a research note on Thursday, March 22nd. 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’s stock. Conagra Brands has an average rating of “Hold” and an average target price of $41.67.
In other news, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $35.86, for a total transaction of $216,809.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert G. Wise sold 5,908 shares of the firm’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 transaction of $219,304.96. Following the transaction, the senior vice president now directly owns 22,781 shares of the company’s stock, valued at $845,630.72. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.
NYSE CAG traded down $0.07 during trading hours on Friday, reaching $36.74. 2,188,760 shares of the company’s stock were exchanged, compared to its average volume of 2,961,026. Conagra Brands has a one year low of $32.16 and a one year high of $41.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.03. The stock has a market cap of $14,720.29, a price-to-earnings ratio of 21.11, a PEG ratio of 2.24 and a beta of 0.28.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the business earned $0.48 EPS. Conagra Brands’s revenue for the quarter was up .7% compared to the same quarter last year. analysts predict that Conagra Brands will post 2.05 EPS 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.
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