Bell Bank Has $6.46 Million Stock Holdings in Conagra Brands $CAG

Bell Bank decreased its stake in Conagra Brands (NYSE:CAG) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,277 shares of the company’s stock after selling 33,021 shares during the period. Bell Bank owned about 0.08% of Conagra Brands worth $6,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Conagra Brands by 45.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock valued at $6,485,000 after buying an additional 106,891 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Conagra Brands by 20.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after acquiring an additional 208,450 shares during the last quarter. AE Wealth Management LLC grew its holdings in Conagra Brands by 13.7% during the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after acquiring an additional 86,604 shares during the last quarter. JPMorgan Chase & Co. increased its position in Conagra Brands by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock valued at $55,323,000 after acquiring an additional 408,597 shares during the period. Finally, AIA Group Ltd increased its position in Conagra Brands by 238.9% in the 3rd quarter. AIA Group Ltd now owns 205,954 shares of the company’s stock valued at $3,771,000 after acquiring an additional 145,191 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CAG shares. Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a report on Wednesday, February 18th. Royal Bank Of Canada decreased their price objective on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a report on Monday, December 22nd. Jefferies Financial Group lowered their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. Sanford C. Bernstein cut their target price on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. Finally, Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $18.57.

Conagra Brands Trading Up 2.7%

NYSE CAG opened at $15.62 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of -70.98 and a beta of -0.02. The business has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $17.83. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. Conagra Brands has a one year low of $15.03 and a one year high of $27.68.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.