Summitry LLC Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Summitry LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,264 shares of the company’s stock, valued at approximately $396,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAG. CoreFirst Bank & Trust purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $73,000. Prudential Financial Inc. increased its holdings in Conagra Brands by 28.5% in the 4th quarter. Prudential Financial Inc. now owns 1,674,848 shares of the company’s stock valued at $46,477,000 after purchasing an additional 371,481 shares during the last quarter. Vanguard Group Inc. raised its position in Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. Community Bank N.A. lifted its stake in Conagra Brands by 1.6% during the fourth quarter. Community Bank N.A. now owns 50,232 shares of the company’s stock worth $1,394,000 after purchasing an additional 795 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Conagra Brands during the fourth quarter worth $5,034,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday. They issued an “equal weight” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Barclays dropped their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average price target of $28.20.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.38 on Wednesday. The stock has a market cap of $12.11 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a fifty day simple moving average of $25.60 and a 200-day simple moving average of $27.73. 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 12-month low of $23.06 and a 12-month high of $33.24.

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.