Generali Asset Management SPA SGR Takes $4.22 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Generali Asset Management SPA SGR bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 152,229 shares of the company’s stock, valued at approximately $4,224,000.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands in the 4th quarter valued at $28,000. Riverview Trust Co bought a new position in Conagra Brands in the 4th quarter valued at $29,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the 4th quarter valued at $44,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG opened at $26.00 on Wednesday. The business’s 50-day moving average is $25.66 and its two-hundred day moving average is $27.96. 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 firm has a market capitalization of $12.41 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

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

Analyst Ratings Changes

Several brokerages have commented on CAG. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $28.33.

About Conagra Brands

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.