Two Sigma Advisers LP lessened its stake in shares of Conagra Brands Inc (NYSE:CAG) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,945,454 shares of the company’s stock after selling 247,618 shares during the quarter. Two Sigma Advisers LP’s holdings in Conagra Brands were worth $73,285,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vantage Investment Advisors LLC boosted its stake in shares of Conagra Brands by 625.7% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares during the period. NuWave Investment Management LLC purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $114,000. Meeder Asset Management Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $161,000. Strategic Financial Services Inc purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $203,000. Finally, Iberiabank Corp purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $207,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Conagra Brands Inc (CAG) opened at $38.03 on Wednesday. Conagra Brands Inc has a 52 week low of $32.16 and a 52 week high of $41.65. The company has a market capitalization of $15,245.15, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.42 and a beta of 0.32. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86.
CAG has been the subject of a number of analyst reports. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, February 22nd. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Stifel Nicolaus increased their price objective on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Finally, UBS Group raised Conagra Brands from a “sell” rating to a “neutral” rating and increased their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.50.
In related news, Director Joie A. Gregor sold 5,250 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The disclosure for this sale can be found here. Insiders sold 33,670 shares of company stock valued at $1,276,868 in the last ninety days. 0.79% of the stock is currently owned by insiders.
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About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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