Sequoia Financial Advisors LLC Acquires 1,431 Shares of Conagra Brands, Inc. (NYSE:CAG)

Sequoia Financial Advisors LLC increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,410 shares of the company’s stock after purchasing an additional 1,431 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Conagra Brands were worth $539,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management increased its position in shares of Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after acquiring an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after purchasing an additional 19,329 shares during the period. State of Alaska Department of Revenue increased its holdings in Conagra Brands by 41.0% during the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock worth $2,175,000 after purchasing an additional 22,790 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG opened at $26.10 on Tuesday. The company has a market cap of $12.46 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The firm has a 50-day moving average of $25.67 and a 200-day moving average of $27.99. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAG shares. Stifel Nicolaus decreased their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $26.00 in a report on Monday, February 24th. Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Eight 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.33.

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.