PFG Investments LLC Increases Holdings in Conagra Brands $CAG

PFG Investments LLC lifted its stake in shares of Conagra Brands (NYSE:CAGFree Report) by 534.3% during the first quarter, HoldingsChannel.com reports. The firm owned 105,348 shares of the company’s stock after purchasing an additional 88,740 shares during the quarter. PFG Investments LLC’s holdings in Conagra Brands were worth $1,656,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc grew its holdings in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after buying an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Conagra Brands in the second quarter worth about $26,000. Harbour Investments Inc. lifted its holdings in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Conagra Brands in the second quarter valued at approximately $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Conagra Brands during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.0%

CAG stock opened at $14.34 on Friday. The company’s 50 day moving average is $13.64 and its 200 day moving average is $15.95. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of -143.34 and a beta of -0.02. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $21.27.

Conagra Brands (NYSE:CAGGet Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands will post 1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard H. Lenny acquired 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the transaction, the director owned 229,340 shares in the company, valued at $3,288,735.60. This represents a 12.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John J. Mulligan acquired 17,500 shares of the stock in a transaction dated Tuesday, April 14th. The shares were bought at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This represents a 542.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAG. Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Morgan Stanley reduced their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group decreased their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Thursday, April 2nd. Finally, Stifel Nicolaus lowered their price objective on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $14.13.

Get Our Latest Stock Report on CAG

Conagra Brands Profile

(Free Report)

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.

Further Reading

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

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