Conagra Brands, Inc. (NYSE:CAG) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc lessened its holdings in Conagra Brands, Inc. (NYSE:CAGFree Report) by 19.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,790 shares of the company’s stock after selling 1,591 shares during the period. AdvisorNet Financial Inc’s holdings in Conagra Brands were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CAG. Thrivent Financial for Lutherans lifted its stake in Conagra Brands by 1.1% in the third quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock valued at $958,000 after buying an additional 310 shares during the last quarter. Equitable Holdings Inc. lifted its stake in Conagra Brands by 0.5% in the first quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock valued at $2,722,000 after buying an additional 373 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its stake in Conagra Brands by 2.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock valued at $461,000 after buying an additional 388 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Conagra Brands by 1.4% in the third quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock valued at $781,000 after buying an additional 393 shares during the last quarter. Finally, Bedel Financial Consulting Inc. lifted its stake in Conagra Brands by 4.6% in the second quarter. Bedel Financial Consulting Inc. now owns 9,135 shares of the company’s stock valued at $308,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAG. Evercore ISI cut Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 target price on the stock. in a research note on Monday, December 11th. Citigroup began coverage on Conagra Brands in a research note on Thursday, February 1st. They issued a “neutral” rating and a $30.00 target price on the stock. Royal Bank of Canada cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Company began coverage on shares of Conagra Brands in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $32.50.

Get Our Latest Stock Analysis on Conagra Brands

Conagra Brands Price Performance

NYSE:CAG opened at $29.56 on Wednesday. The business’s 50-day moving average price is $28.48 and its 200 day moving average price is $28.31. The firm has a market cap of $14.13 billion, a P/E ratio of 14.35, a PEG ratio of 3.15 and a beta of 0.41. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.94. The company has a quick ratio of 0.31, a current ratio of 0.91 and a debt-to-equity ratio of 0.83.

Conagra Brands (NYSE:CAGGet Free Report) last released its earnings results on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.23 billion. Conagra Brands had a return on equity of 14.78% and a net margin of 8.09%. Conagra Brands’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Profile

(Free Report)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.

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

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