Conagra Brands (NYSE:CAG – Get Free Report) had its price objective cut by stock analysts at Wells Fargo & Company from $32.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.19% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Barclays raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Citigroup decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.93.
Check Out Our Latest Analysis on CAG
Conagra Brands Stock Up 0.6 %
Insiders Place Their Bets
In related news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CAG. Federated Hermes Inc. grew its position in Conagra Brands by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after buying an additional 1,330,249 shares in the last quarter. Norges Bank acquired a new stake in Conagra Brands during the fourth quarter worth about $140,473,000. Deutsche Bank AG increased its holdings in Conagra Brands by 28.6% in the 3rd quarter. Deutsche Bank AG now owns 2,951,129 shares of the company’s stock valued at $80,920,000 after buying an additional 657,170 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Conagra Brands by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock worth $81,888,000 after acquiring an additional 127,739 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in shares of Conagra Brands during the 1st quarter worth approximately $47,980,000. Institutional investors and hedge funds own 83.75% of the company’s stock.
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.
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