Farther Finance Advisors LLC Raises Position in Conagra Brands, Inc. (NYSE:CAG)

Farther Finance Advisors LLC increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 49.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,846 shares of the company’s stock after buying an additional 1,599 shares during the period. Farther Finance Advisors LLC’s holdings in Conagra Brands were worth $134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAG. OneDigital Investment Advisors LLC purchased a new stake in shares of Conagra Brands in the third quarter worth $224,000. Thrivent Financial for Lutherans increased its stake in Conagra Brands by 13.1% in the third quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock valued at $1,088,000 after acquiring an additional 3,867 shares during the last quarter. Swiss National Bank increased its stake in Conagra Brands by 0.3% in the third quarter. Swiss National Bank now owns 1,419,312 shares of the company’s stock valued at $46,156,000 after acquiring an additional 3,900 shares during the last quarter. Caprock Group LLC increased its stake in Conagra Brands by 32.9% in the third quarter. Caprock Group LLC now owns 26,971 shares of the company’s stock valued at $877,000 after acquiring an additional 6,677 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new position in Conagra Brands in the third quarter valued at $360,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.89 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $25.63 and a 200-day moving average of $27.93. The firm has a market cap of $12.36 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

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

Analysts Set New Price Targets

CAG has been the topic of a number of research analyst reports. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup reduced their price objective 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. Finally, Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $28.33.

About Conagra Brands

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.