Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Meyer Handelman Co.

Meyer Handelman Co. lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 0.2% during the fourth quarter, Holdings Channel reports. The fund owned 626,751 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Meyer Handelman Co.’s holdings in Conagra Brands were worth $17,963,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans boosted its position in Conagra Brands by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock worth $958,000 after acquiring an additional 310 shares during the period. Westchester Capital Management Inc. raised its stake in shares of Conagra Brands by 0.6% in the 2nd quarter. Westchester Capital Management Inc. now owns 64,675 shares of the company’s stock worth $2,181,000 after buying an additional 367 shares in the last quarter. Equitable Holdings Inc. raised its stake in shares of Conagra Brands by 0.5% in the 1st quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock worth $2,722,000 after buying an additional 373 shares in the last quarter. Laurel Wealth Advisors Inc. raised its stake in shares of Conagra Brands by 2.9% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock worth $461,000 after buying an additional 388 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Conagra Brands by 1.4% during the third quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after purchasing an additional 393 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG stock traded up $0.10 during midday trading on Monday, reaching $29.09. 2,863,973 shares of the company’s stock traded hands, compared to its average volume of 4,927,615. The company has a 50-day simple moving average of $28.40 and a two-hundred day simple moving average of $28.29. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.94. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 3.08 and a beta of 0.42. The company has a quick ratio of 0.31, a current ratio of 0.91 and a debt-to-equity ratio of 0.83.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, January 4th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Conagra Brands had a return on equity of 14.78% and a net margin of 8.09%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. On average, analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CAG shares. Evercore ISI lowered Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 target price on the stock. in a research report on Monday, December 11th. Wells Fargo & Company started coverage on Conagra Brands in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 target price on the stock. Royal Bank of Canada cut their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Finally, Citigroup initiated coverage on Conagra Brands in a report on Thursday, February 1st. They set a “neutral” rating and a $30.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average target price of $32.87.

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.