Conagra Brands, Inc. (NYSE:CAG) Stock Holdings Reduced by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 45.0% in the fourth quarter, Holdings Channel reports. The firm owned 109,419 shares of the company’s stock after selling 89,360 shares during the period. Wealthfront Advisers LLC’s holdings in Conagra Brands were worth $3,036,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the fourth quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in Conagra Brands in the fourth quarter worth approximately $29,000. Grove Bank & Trust increased its stake in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands during the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $44,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 0.5 %

Shares of CAG stock opened at $25.78 on Friday. 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, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The firm’s fifty day simple moving average is $25.76 and its 200 day simple moving average is $28.13. The firm has a market capitalization of $12.30 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAG. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Eight 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 stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $28.33.

About Conagra Brands

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.