Spire Wealth Management Has $87,000 Stake in Conagra Brands (NYSE:CAG)

Spire Wealth Management boosted its position in shares of Conagra Brands (NYSE:CAG) by 216.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,271 shares of the company’s stock after acquiring an additional 2,236 shares during the period. Spire Wealth Management’s holdings in Conagra Brands were worth $87,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAG. Proficio Capital Partners LLC acquired a new position in shares of Conagra Brands in the fourth quarter valued at $2,035,000. US Bancorp DE boosted its stake in Conagra Brands by 0.4% during the fourth quarter. US Bancorp DE now owns 212,694 shares of the company’s stock worth $5,902,000 after buying an additional 896 shares in the last quarter. Metis Global Partners LLC increased its holdings in Conagra Brands by 84.8% in the 4th quarter. Metis Global Partners LLC now owns 28,279 shares of the company’s stock valued at $785,000 after buying an additional 12,977 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Conagra Brands by 40.3% in the 4th quarter. Jones Financial Companies Lllp now owns 60,713 shares of the company’s stock valued at $1,685,000 after buying an additional 17,435 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CAG. Bank of America lowered shares of Conagra Brands from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. The Goldman Sachs Group lowered shares of Conagra Brands from a “neutral” rating to a “sell” rating and decreased their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Barclays cut their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group cut their price target on shares of Conagra Brands from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus price target of $25.27.

Conagra Brands Stock Up 2.8%

Shares of NYSE CAG opened at $21.04 on Wednesday. The stock’s fifty day moving average is $22.60 and its 200 day moving average is $24.84. The stock has a market capitalization of $10.04 billion, a P/E ratio of 30.94, a PEG ratio of 1.52 and a beta of 0.11. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. Conagra Brands has a 52 week low of $20.26 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. Sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Company 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.