HighTower Advisors LLC Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

HighTower Advisors LLC decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,077 shares of the company’s stock after selling 49,500 shares during the period. HighTower Advisors LLC’s holdings in Conagra Brands were worth $2,944,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAG. Moors & Cabot Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at $584,000. AGF Management Ltd. bought a new stake in shares of Conagra Brands during the 4th quarter valued at $2,646,000. Inspire Advisors LLC raised its position in shares of Conagra Brands by 18.4% during the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company’s stock valued at $1,755,000 after purchasing an additional 9,838 shares during the period. Miller Financial Services LLC bought a new stake in shares of Conagra Brands during the 4th quarter valued at $681,000. Finally, Independent Advisor Alliance raised its position in shares of Conagra Brands by 9.5% during the 4th quarter. Independent Advisor Alliance now owns 8,788 shares of the company’s stock valued at $244,000 after purchasing an additional 765 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.65 on Friday. The company’s 50-day moving average price is $25.62 and its 200-day moving average price is $27.89. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. 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 company has a market cap of $12.24 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

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. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $0.71 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAG has been the topic of several recent analyst reports. Stifel Nicolaus decreased 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 report on Wednesday, February 19th. Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Bank of America reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Barclays reduced their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.33.

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.