iA Global Asset Management Inc. Raises Holdings in Conagra Brands, Inc. (NYSE:CAG)

iA Global Asset Management Inc. lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,081 shares of the company’s stock after purchasing an additional 4,118 shares during the period. iA Global Asset Management Inc.’s holdings in Conagra Brands were worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAG. Two Sigma Advisers LP increased its stake in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares in the last quarter. Holocene Advisors LP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $65,932,000. State Street Corp grew its stake in Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares during the period. Ilex Capital Partners UK LLP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $46,990,000. Finally, Thompson Siegel & Walmsley LLC grew its stake in Conagra Brands by 114.5% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock worth $53,478,000 after acquiring an additional 1,028,631 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 1.0 %

Shares of CAG opened at $25.65 on Friday. 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 firm 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. The company’s fifty day moving average is $25.62 and its two-hundred day moving average is $27.89. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

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

Analyst Upgrades and Downgrades

Several analysts have commented on CAG shares. Bank of America lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Citigroup decreased 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. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.