AGF Management Ltd. Buys Shares of 95,363 Conagra Brands, Inc. (NYSE:CAG)

AGF Management Ltd. purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,363 shares of the company’s stock, valued at approximately $2,646,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands in the fourth quarter valued at about $29,000. Grove Bank & Trust grew its position in shares of 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 purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAG shares. Wells Fargo & Company lowered 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. Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. 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 research note on Wednesday, December 11th. Finally, Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.33.

Conagra Brands Stock Performance

Shares of CAG stock opened at $25.78 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a 50 day moving average price of $25.76 and a 200 day moving average price of $28.13.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

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.