Proficio Capital Partners LLC Buys Shares of 73,343 Conagra Brands, Inc. (NYSE:CAG)

Proficio Capital Partners LLC bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 73,343 shares of the company’s stock, valued at approximately $2,035,000.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP grew its stake in Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares during the period. Holocene Advisors LP bought a new stake in shares of Conagra Brands in the third quarter worth about $65,932,000. State Street Corp raised its position in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the period. Finally, Ilex Capital Partners UK LLP bought a new position in shares of Conagra Brands during the 3rd quarter valued at about $46,990,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $25.91 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business has a 50-day moving average of $25.64 and a 200-day moving average of $27.94. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

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

Analysts Set New Price Targets

CAG has been the topic of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Barclays reduced their target price 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. Finally, Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $28.33.

Conagra Brands 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.