Intech Investment Management LLC Purchases 26,788 Shares of Conagra Brands, Inc. (NYSE:CAG)

Intech Investment Management LLC lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 40.3% during the fourth quarter, Holdings Channel reports. The firm owned 93,299 shares of the company’s stock after acquiring an additional 26,788 shares during the period. Intech Investment Management LLC’s holdings in Conagra Brands were worth $2,589,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CAG. Pacer Advisors Inc. increased its holdings in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares during the last quarter. Holocene Advisors LP purchased a new stake in Conagra Brands during the third quarter worth about $65,932,000. State Street Corp increased its holdings in Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new stake in Conagra Brands during the third quarter worth about $46,990,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Down 0.4 %

NYSE:CAG opened at $25.91 on Thursday. The firm’s 50-day moving average price is $25.64 and its 200-day moving average price is $27.94. The company has a market capitalization of $12.36 billion, a PE ratio of 25.40, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CAG shares. Bank of America decreased their price objective 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. JPMorgan Chase & Co. reduced 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. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus price target of $28.33.

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.