Raymond James Financial Inc. Purchases New Holdings in Conagra Brands, Inc. (NYSE:CAG)

Raymond James Financial Inc. purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 597,723 shares of the company’s stock, valued at approximately $16,588,000. Raymond James Financial Inc. owned about 0.13% of Conagra Brands at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB grew its stake in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Geode Capital Management LLC grew its stake in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after acquiring an additional 196,100 shares in the last quarter. Pacer Advisors Inc. grew its stake in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CAG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.33.

Conagra Brands Trading Up 1.7 %

NYSE:CAG opened at $26.10 on Tuesday. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The firm has a 50 day moving average of $25.67 and a 200 day moving average of $27.99. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

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.