Palisade Asset Management LLC lowered its position in Conagra Brands Inc (NYSE:CAG) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 35,300 shares of the company’s stock after selling 500 shares during the quarter. Palisade Asset Management LLC’s holdings in Conagra Brands were worth $979,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $26,000. Princeton Global Asset Management LLC acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $26,000. 1832 Asset Management L.P. acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $28,000. Kaizen Advisory LLC increased its position in Conagra Brands by 47.3% during the 4th quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock valued at $29,000 after purchasing an additional 443 shares during the period. Finally, Timber Creek Capital Management LLC increased its position in Conagra Brands by 143.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 1,580 shares of the company’s stock valued at $33,000 after purchasing an additional 930 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.
Shares of CAG stock traded up $0.33 during trading hours on Monday, hitting $30.08. 3,356,316 shares of the company were exchanged, compared to its average volume of 8,341,764. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $39.43. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 1.49.
A number of analysts have weighed in on CAG shares. Zacks Investment Research reissued a “sell” rating on shares of Conagra Brands in a research report on Monday, December 31st. Credit Suisse Group increased their target price on shares of Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday. Goldman Sachs Group downgraded shares of Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $44.00 price objective on shares of Conagra Brands in a research report on Wednesday, December 19th. Finally, Barclays reaffirmed a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a research report on Sunday, December 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Buy” and an average price target of $37.90.
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About Conagra Brands
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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