Thrivent Financial for Lutherans Cuts Position in Conagra Brands, Inc. (NYSE:CAG)

Thrivent Financial for Lutherans trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,264 shares of the company’s stock after selling 1,192 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Conagra Brands were worth $899,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the 4th quarter valued at $28,000. Riverview Trust Co purchased a new stake in Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new position in Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Conagra Brands during the 4th quarter valued at approximately $44,000. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAG shares. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Stifel Nicolaus lowered their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley assumed coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Nine 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.20.

Conagra Brands Price Performance

CAG stock opened at $26.60 on Wednesday. The firm has a market cap of $12.70 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.76 and a beta of 0.18. The firm’s fifty day moving average is $25.67 and its 200 day moving average is $27.53. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

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.