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

Sequoia Financial Advisors LLC raised its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 19,410 shares of the company’s stock after acquiring an additional 1,431 shares during the period. Sequoia Financial Advisors LLC’s holdings in Conagra Brands were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CAG. Pacer Advisors Inc. lifted its holdings in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Conagra Brands in the third quarter valued at about $65,932,000. State Street Corp grew its stake in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new position in Conagra Brands during the third quarter worth about $46,990,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Conagra Brands stock opened at $26.10 on Tuesday. The stock has a fifty day moving average of $25.67 and a 200-day moving average of $27.99. The stock has a market capitalization of $12.46 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Citigroup decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus reduced 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. Finally, Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Eight research 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.