Bell Bank Sells 33,021 Shares of Conagra Brands $CAG

Bell Bank trimmed its stake in Conagra Brands (NYSE:CAG) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 373,277 shares of the company’s stock after selling 33,021 shares during the quarter. Bell Bank’s holdings in Conagra Brands were worth $6,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Wealth Enhancement Advisory Services LLC boosted its position in shares of Conagra Brands by 45.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock worth $6,485,000 after purchasing an additional 106,891 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Conagra Brands by 20.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock valued at $25,578,000 after buying an additional 208,450 shares during the period. AE Wealth Management LLC increased its position in Conagra Brands by 13.7% in the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock valued at $13,185,000 after buying an additional 86,604 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Conagra Brands by 15.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock worth $55,323,000 after buying an additional 408,597 shares during the period. Finally, AIA Group Ltd raised its stake in Conagra Brands by 238.9% during the 3rd quarter. AIA Group Ltd now owns 205,954 shares of the company’s stock worth $3,771,000 after buying an additional 145,191 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Up 2.7%

CAG stock opened at $15.62 on Friday. The stock has a market cap of $7.47 billion, a P/E ratio of -70.98 and a beta of -0.02. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $17.93 and its two-hundred day simple moving average is $17.83. Conagra Brands has a 1-year low of $15.03 and a 1-year high of $27.68.

Analyst Ratings Changes

A number of equities research analysts have commented on CAG shares. Wells Fargo & Company reissued an “underweight” rating and issued a $15.00 price objective (down from $20.00) on shares of Conagra Brands in a research note on Thursday, March 12th. Royal Bank Of Canada lowered their target price on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, December 22nd. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Evercore reduced their price target on shares of Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $18.57.

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.