Intact Investment Management Inc. bought a new stake in Conagra Brands Inc (NYSE:CAG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,600 shares of the company’s stock, valued at approximately $1,869,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Redpoint Investment Management Pty Ltd increased its position in shares of Conagra Brands by 21.3% during the third quarter. Redpoint Investment Management Pty Ltd now owns 9,425 shares of the company’s stock worth $289,000 after acquiring an additional 1,653 shares in the last quarter. Virtu Financial LLC grew its position in Conagra Brands by 40.6% in the 3rd quarter. Virtu Financial LLC now owns 36,919 shares of the company’s stock worth $1,132,000 after purchasing an additional 10,666 shares in the last quarter. Phoenix Holdings Ltd. bought a new stake in Conagra Brands in the 3rd quarter worth about $22,451,000. California State Teachers Retirement System grew its position in Conagra Brands by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 818,320 shares of the company’s stock worth $25,106,000 after purchasing an additional 2,935 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Conagra Brands by 6.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,533,062 shares of the company’s stock worth $77,714,000 after purchasing an additional 151,604 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.
Shares of CAG stock traded up $0.24 during mid-day trading on Thursday, hitting $26.32. The company had a trading volume of 310,306 shares, compared to its average volume of 7,305,259. Conagra Brands Inc has a 52-week low of $22.83 and a 52-week high of $35.59. The stock’s 50 day moving average price is $28.75 and its 200-day moving average price is $29.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.37. The company has a market capitalization of $12.91 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.86 and a beta of 1.08.
In other news, Director Jana Partners Llc sold 420,926 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $32.56, for a total value of $13,705,350.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig P. Omtvedt bought 14,450 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were acquired at an average price of $34.00 per share, for a total transaction of $491,300.00. Following the completion of the acquisition, the director now owns 60,577 shares in the company, valued at $2,059,618. The disclosure for this purchase can be found here. 0.84% of the stock is owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. Evercore ISI reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Conagra Brands in a research report on Tuesday, February 18th. UBS Group increased their target price on shares of Conagra Brands from $32.00 to $38.00 and gave the stock a “positive” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on shares of Conagra Brands from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, Barclays reissued a “buy” rating and set a $36.00 price target on shares of Conagra Brands in a research report on Sunday, December 22nd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.18.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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