Prudential Financial Inc. Has $46.48 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Prudential Financial Inc. raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,674,848 shares of the company’s stock after acquiring an additional 371,481 shares during the quarter. Prudential Financial Inc. owned about 0.35% of Conagra Brands worth $46,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in Conagra Brands during the 4th quarter worth about $29,000. Grove Bank & Trust lifted its position in Conagra Brands by 65.4% during the 4th 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 period. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $44,000. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CAG. Morgan Stanley assumed coverage on shares of Conagra Brands in a report on Monday. They set an “equal weight” rating and a $27.00 target price for the company. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group cut 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. Barclays lowered their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Price Performance

NYSE:CAG opened at $25.38 on Wednesday. The company has a market cap of $12.11 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.76 and a beta of 0.18. The firm’s fifty day moving average price is $25.60 and its two-hundred day moving average price is $27.73. 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 current ratio of 0.70 and a quick ratio of 0.22.

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.