HPM Partners LLC increased its holdings in Conagra Brands Inc (NYSE:CAG) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,218 shares of the company’s stock after buying an additional 2,763 shares during the period. HPM Partners LLC’s holdings in Conagra Brands were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of CAG. Vantage Investment Advisors LLC raised its stake in Conagra Brands by 625.7% in the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after buying an additional 2,578 shares in the last quarter. NuWave Investment Management LLC bought a new position in Conagra Brands in the fourth quarter worth approximately $114,000. Meeder Asset Management Inc. bought a new position in Conagra Brands in the fourth quarter worth approximately $161,000. Strategic Financial Services Inc bought a new position in Conagra Brands in the fourth quarter worth approximately $203,000. Finally, Iberiabank Corp bought a new position in Conagra Brands in the fourth quarter worth approximately $207,000. 79.91% of the stock is owned by institutional investors.
CAG has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, February 22nd. Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a report on Monday, December 25th. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.50.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. sell-side analysts anticipate that Conagra Brands Inc will post 1.96 EPS for the current fiscal year.
In other news, Director Joie A. Gregor sold 5,250 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert G. Wise sold 23,170 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $37.87, for a total transaction of $877,447.90. Following the sale, the senior vice president now directly owns 51,859 shares in the company, valued at $1,963,900.33. The disclosure for this sale can be found here. Insiders have sold 33,670 shares of company stock worth $1,276,868 over the last three months. Corporate insiders own 0.79% of the company’s stock.
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Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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