Conagra Brands, Inc. (NYSE:CAG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 23.3% in the 4th quarter, HoldingsChannel reports. The firm owned 9,599,405 shares of the company’s stock after selling 2,913,031 shares during the period. American Century Companies Inc.’s holdings in Conagra Brands were worth $266,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the 4th quarter worth $28,000. Riverview Trust Co purchased a new position in Conagra Brands in the fourth quarter valued at $29,000. Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the fourth quarter valued at $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus dropped their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Barclays dropped their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Stock Performance

NYSE CAG opened at $25.65 on Friday. 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, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a market capitalization of $12.24 billion, a PE ratio of 25.14, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a fifty day moving average of $25.62 and a two-hundred day moving average of $27.89.

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

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.