Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,081 shares of the company’s stock after buying an additional 4,118 shares during the period. iA Global Asset Management Inc.’s holdings in Conagra Brands were worth $1,168,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.0 %

Shares of Conagra Brands stock opened at $25.65 on Friday. 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. The stock has a market cap of $12.24 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a 50-day moving average of $25.62 and a two-hundred day moving average of $27.89.

Conagra Brands (NYSE:CAG) last issued its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Barclays reduced their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target 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.