Conagra Brands, Inc. (NYSE:CAG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,599,405 shares of the company’s stock after selling 2,913,031 shares during the quarter. American Century Companies Inc. owned about 2.01% of Conagra Brands worth $266,383,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAG shares. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company lowered their price objective on 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Barclays lowered their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Bank of America lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Price Performance

CAG stock opened at $25.65 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. The company has a market capitalization of $12.24 billion, a PE ratio of 25.14, a P/E/G 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 business’s fifty day moving average price is $25.62 and its 200 day moving average price is $27.89.

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, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’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 EPS. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

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.