Two Sigma Advisers LP cut its stake in shares of Conagra Brands Inc (NYSE:CAG) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,945,454 shares of the company’s stock after selling 247,618 shares during the period. Two Sigma Advisers LP owned 0.49% of Conagra Brands worth $73,285,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in CAG. Vantage Investment Advisors LLC increased its position in shares of Conagra Brands by 625.7% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after buying an additional 2,578 shares during the period. NuWave Investment Management LLC bought a new position in shares of Conagra Brands in the fourth quarter worth approximately $114,000. Meeder Asset Management Inc. bought a new position in shares of Conagra Brands in the fourth quarter worth approximately $161,000. Strategic Financial Services Inc bought a new position in shares of Conagra Brands in the fourth quarter worth approximately $203,000. Finally, Iberiabank Corp bought a new position in shares of Conagra Brands in the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Stifel Nicolaus upped their price objective on shares of Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. Credit Suisse Group set a $40.00 price objective on shares of Conagra Brands and gave the stock a “hold” rating in a research report on Monday, December 25th. 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. Finally, UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Hold” and a consensus target price of $40.50.
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 Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. Conagra Brands’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. equities 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 company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now owns 51,859 shares of the company’s stock, valued at $1,963,900.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joie A. Gregor sold 5,250 shares of the company’s stock in a transaction that occurred on 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 ninety days, insiders sold 33,670 shares of company stock valued at $1,276,868. 0.79% of the stock is owned by insiders.
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Conagra Brands 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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