EverSource Wealth Advisors LLC Increases Holdings in Conagra Brands, Inc. (NYSE:CAG)

EverSource Wealth Advisors LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 45.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,321 shares of the company’s stock after acquiring an additional 4,164 shares during the period. EverSource Wealth Advisors LLC’s holdings in Conagra Brands were worth $370,000 as of its most recent SEC filing.

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

Conagra Brands Price Performance

NYSE:CAG opened at $25.66 on Friday. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.76 and a beta of 0.18. The firm’s fifty day moving average is $25.68 and its two-hundred day moving average is $28.08.

Conagra Brands (NYSE:CAG) last posted its earnings results 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their target price 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. Wells Fargo & Company cut their target price 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.33.

Conagra Brands Company 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.