Norges Bank Buys New Stake in Conagra Brands, Inc. (NYSE:CAG)

Norges Bank purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,085,648 shares of the company’s stock, valued at approximately $168,877,000. Norges Bank owned 1.27% of Conagra Brands as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $28,000. Riverview Trust Co bought a new position in Conagra Brands during the 4th quarter valued at about $29,000. Grove Bank & Trust boosted its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Conagra Brands during the fourth quarter worth about $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth approximately $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on CAG shares. Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.20.

Conagra Brands Stock Up 0.5 %

Shares of NYSE:CAG opened at $26.69 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a 50 day moving average of $25.65 and a 200-day moving average of $27.57. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24.

About Conagra Brands

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.