Prudential Financial Inc. Acquires 371,481 Shares of Conagra Brands, Inc. (NYSE:CAG)

Prudential Financial Inc. boosted its stake in Conagra Brands, Inc. (NYSE:CAG) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,674,848 shares of the company’s stock after purchasing an additional 371,481 shares during the period. Prudential Financial Inc.’s holdings in Conagra Brands were worth $46,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAG. Thrivent Financial for Lutherans raised its stake in shares of Conagra Brands by 13.1% in the third quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock valued at $1,088,000 after buying an additional 3,867 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Conagra Brands by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock worth $100,909,000 after acquiring an additional 63,738 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Conagra Brands by 6.5% in the 3rd quarter. Cerity Partners LLC now owns 397,297 shares of the company’s stock worth $12,920,000 after purchasing an additional 24,103 shares in the last quarter. Swedbank AB grew its position in Conagra Brands by 3.1% during the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock valued at $21,934,000 after acquiring an additional 20,384 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Conagra Brands by 547.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,099 shares of the company’s stock worth $68,000 after purchasing an additional 1,775 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG opened at $25.38 on Wednesday. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 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. The stock has a market cap of $12.11 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.76 and a beta of 0.18. The firm has a fifty day moving average price of $25.60 and a 200 day moving average price of $27.73.

Analysts Set New Price Targets

CAG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Bank of America decreased 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. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Citigroup dropped 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. Nine investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.20.

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.