Deutsche Bank AG lessened its holdings in Conagra Brands Inc (NYSE:CAG) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,085,320 shares of the company’s stock after selling 174,337 shares during the quarter. Deutsche Bank AG owned 0.52% of Conagra Brands worth $78,545,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Vantage Investment Advisors LLC raised its position in Conagra Brands by 625.7% in the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after purchasing an additional 2,578 shares during the period. NuWave Investment Management LLC purchased a new position in shares of Conagra Brands in the fourth quarter valued at about $114,000. Meeder Asset Management Inc. purchased a new position in shares of Conagra Brands in the fourth quarter valued at about $161,000. Strategic Financial Services Inc purchased a new position in shares of Conagra Brands in the fourth quarter valued at about $203,000. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Conagra Brands in the fourth quarter valued at about $207,000. Institutional investors own 79.91% of the company’s stock.
In related news, Director Joie A. Gregor sold 5,250 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert G. Wise sold 23,170 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were 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 approximately $1,963,900.33. The disclosure for this sale can be found here. Insiders have sold 33,670 shares of company stock worth $1,276,868 in the last quarter. 0.79% of the stock is owned by corporate insiders.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. Conagra Brands’s quarterly revenue was up 4.1% on a year-over-year basis. research analysts forecast that Conagra Brands Inc will post 1.96 EPS for the current fiscal year.
A number of research firms have issued reports on CAG. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, December 12th. Finally, Credit Suisse Group set a $40.00 price objective on shares of Conagra Brands and gave the company 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 assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.50.
Conagra Brands Company Profile
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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