Y Intercept Hong Kong Ltd Purchases New Shares in Conagra Brands $CAG

Y Intercept Hong Kong Ltd purchased a new position in Conagra Brands (NYSE:CAG) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 104,255 shares of the company’s stock, valued at approximately $1,639,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Platform Technology Partners purchased a new stake in Conagra Brands during the first quarter valued at about $174,000. Sound Income Strategies LLC increased its position in shares of Conagra Brands by 6.0% in the first quarter. Sound Income Strategies LLC now owns 431,070 shares of the company’s stock worth $6,690,000 after acquiring an additional 24,404 shares in the last quarter. KPP Advisory Services LLC acquired a new stake in shares of Conagra Brands during the first quarter valued at approximately $159,000. Root Financial Partners LLC raised its holdings in shares of Conagra Brands by 20.9% during the first quarter. Root Financial Partners LLC now owns 4,855 shares of the company’s stock valued at $76,000 after acquiring an additional 839 shares during the period. Finally, Capricorn Fund Managers Ltd purchased a new stake in shares of Conagra Brands in the 1st quarter valued at approximately $1,205,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAG. Jefferies Financial Group decreased their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. TD Cowen decreased their target price on Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, March 25th. Royal Bank Of Canada lowered their price target on Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating on the stock in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, eleven have given 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 a consensus target price of $14.00.

Insiders Place Their Bets

In other news, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the acquisition, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Mulligan acquired 17,500 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the transaction, the director owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. The trade was a 542.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company’s stock.

Conagra Brands Stock Down 3.0%

CAG stock opened at $13.36 on Friday. The company has a 50 day moving average of $13.60 and a two-hundred day moving average of $15.82. The company has a market cap of $6.39 billion, a price-to-earnings ratio of -133.59 and a beta of -0.02. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

About Conagra Brands

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.