NEOS Investment Management LLC Increases Position in Conagra Brands, Inc. (NYSE:CAG)

NEOS Investment Management LLC lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 30.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,509 shares of the company’s stock after buying an additional 6,218 shares during the quarter. NEOS Investment Management LLC’s holdings in Conagra Brands were worth $736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock worth $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. State Street Corp grew its holdings in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB increased its stake in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC lifted its holdings in Conagra Brands by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after buying an additional 196,100 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after buying an additional 122,590 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Up 0.4 %

Shares of Conagra Brands stock opened at $26.55 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.67 billion, a P/E ratio of 26.03, a PEG ratio of 1.76 and a beta of 0.18. The firm’s 50 day moving average price is $25.63 and its 200-day moving average price is $27.60. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAG. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target for the company. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.20.

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.