Swiss Life Asset Management Ltd Has $3.48 Million Holdings in Conagra Brands $CAG

Swiss Life Asset Management Ltd cut its holdings in shares of Conagra Brands (NYSE:CAG) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,059 shares of the company’s stock after selling 77,753 shares during the period. Swiss Life Asset Management Ltd’s holdings in Conagra Brands were worth $3,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Conagra Brands in the second quarter worth about $172,475,000. Two Sigma Investments LP lifted its holdings in shares of Conagra Brands by 239.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after purchasing an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Conagra Brands by 245.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Conagra Brands by 216.2% in the 3rd quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock valued at $135,318,000 after purchasing an additional 5,100,424 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Conagra Brands by 241.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock valued at $108,313,000 after purchasing an additional 4,185,486 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, December 22nd. Jefferies Financial Group reduced their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th. TD Cowen restated a “hold” rating on shares of Conagra Brands in a report on Monday, December 22nd. Evercore dropped their price objective on shares of Conagra Brands from $22.00 to $19.00 in a report on Friday, January 9th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $15.00 target price (down from $20.00) on shares of Conagra Brands in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $18.57.

Conagra Brands Trading Down 1.6%

NYSE CAG opened at $15.16 on Monday. Conagra Brands has a 52 week low of $15.06 and a 52 week high of $27.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The stock’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $17.96. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -68.89 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 for the quarter, topping the consensus estimate of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned $0.70 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

About Conagra Brands

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.