Charter Research & Investment Group Inc. reduced its position in Conagra Brands Inc (NYSE:CAG) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,341 shares of the company’s stock after selling 1,224 shares during the period. Charter Research & Investment Group Inc.’s holdings in Conagra Brands were worth $904,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Conagra Brands by 59.3% in the 3rd quarter. FMR LLC now owns 6,684,731 shares of the company’s stock worth $227,081,000 after purchasing an additional 2,487,451 shares in the last quarter. Geode Capital Management LLC boosted its stake in Conagra Brands by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after purchasing an additional 1,840,875 shares in the last quarter. Scopus Asset Management L.P. acquired a new stake in Conagra Brands in the 3rd quarter worth approximately $61,146,000. Renaissance Technologies LLC acquired a new stake in Conagra Brands in the 3rd quarter worth approximately $59,329,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in Conagra Brands by 118.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 2,937,709 shares of the company’s stock worth $62,749,000 after purchasing an additional 1,590,664 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
Shares of NYSE CAG opened at $23.09 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.47 and a debt-to-equity ratio of 1.58. Conagra Brands Inc has a 12 month low of $20.22 and a 12 month high of $39.43. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.58 and a beta of 0.74.
CAG has been the subject of a number of recent analyst reports. Zacks Investment Research reiterated a “sell” rating on shares of Conagra Brands in a research note on Monday, December 31st. Goldman Sachs Group cut shares of Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Credit Suisse Group set a $39.00 target price on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Thursday, December 20th. Barclays reiterated a “buy” rating and issued a $30.00 target price on shares of Conagra Brands in a research note on Sunday, December 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $44.00 target price on shares of Conagra Brands in a research note on Wednesday, December 19th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Hold” and an average target price of $41.40.
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Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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