AIA Group Ltd Has $3.77 Million Position in Conagra Brands $CAG

AIA Group Ltd boosted its holdings in shares of Conagra Brands (NYSE:CAG) by 238.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 205,954 shares of the company’s stock after purchasing an additional 145,191 shares during the period. AIA Group Ltd’s holdings in Conagra Brands were worth $3,771,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CAG. CYBER HORNET ETFs LLC bought a new stake in Conagra Brands in the second quarter worth approximately $26,000. True Wealth Design LLC raised its holdings in shares of Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after purchasing an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Conagra Brands in the 2nd quarter valued at $29,000. Spire Wealth Management lifted its stake in shares of Conagra Brands by 249.0% in the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Conagra Brands in the third quarter worth $33,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore lowered their target price on shares of Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a research note on Wednesday, February 18th. UBS Group reissued a “neutral” rating and set a $20.00 price objective on shares of Conagra Brands in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, December 22nd. Finally, Jefferies Financial Group reduced their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $18.71.

Conagra Brands Stock Down 1.1%

Conagra Brands stock opened at $15.40 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. Conagra Brands has a fifty-two week low of $15.31 and a fifty-two week high of $27.68. The firm has a fifty day moving average price of $18.12 and a two-hundred day moving average price of $18.00. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -69.98 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. As a group, analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.