Conagra Brands $CAG Stock Position Increased by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. increased its holdings in Conagra Brands (NYSE:CAG) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,248,373 shares of the company’s stock after buying an additional 45,721 shares during the period. Conagra Brands accounts for 5.5% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. Wilsey Asset Management Inc. owned approximately 0.47% of Conagra Brands worth $35,344,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CAG. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands during the 2nd quarter valued at $26,000. MUFG Securities EMEA plc bought a new position in Conagra Brands in the 2nd quarter worth about $29,000. Harbour Investments Inc. grew its holdings in Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after buying an additional 1,029 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands during the third quarter valued at about $33,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In related news, Director John J. Mulligan purchased 17,500 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director directly owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard H. Lenny acquired 25,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was bought at an average price of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director directly owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

CAG has been the subject of a number of analyst reports. BTIG Research initiated coverage on shares of Conagra Brands in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley lowered their target price on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Jefferies Financial Group reduced their price target on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, UBS Group decreased their price objective on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $14.13.

Conagra Brands Stock Performance

Conagra Brands stock opened at $14.34 on Monday. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $21.27. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $13.64 and a two-hundred day simple moving average of $15.93. The company has a market capitalization of $6.86 billion, a PE ratio of -143.34 and a beta of -0.02.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.