Atria Investments Inc Lowers Position in Conagra Brands, Inc. (NYSE:CAG)

Atria Investments Inc lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 32.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 29,218 shares of the company’s stock after selling 13,770 shares during the quarter. Atria Investments Inc’s holdings in Conagra Brands were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Conagra Brands during the 4th quarter valued at about $666,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Conagra Brands by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,239,584 shares of the company’s stock valued at $89,898,000 after buying an additional 136,599 shares in the last quarter. State of Michigan Retirement System grew its position in Conagra Brands by 4.7% during the 4th quarter. State of Michigan Retirement System now owns 157,101 shares of the company’s stock worth $4,360,000 after acquiring an additional 7,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Jones Financial Companies Lllp grew its position in Conagra Brands by 40.3% during the 4th quarter. Jones Financial Companies Lllp now owns 60,713 shares of the company’s stock worth $1,685,000 after acquiring an additional 17,435 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.5 %

Shares of NYSE:CAG opened at $25.78 on Friday. The stock has a fifty day simple moving average of $25.76 and a two-hundred day simple moving average of $28.13. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CAG. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.33.

Conagra Brands Profile

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.