Adams Asset Advisors LLC Reduces Holdings in Conagra Brands $CAG

Adams Asset Advisors LLC lowered its stake in shares of Conagra Brands (NYSE:CAG) by 26.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,379 shares of the company’s stock after selling 51,753 shares during the quarter. Adams Asset Advisors LLC’s holdings in Conagra Brands were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Conagra Brands during the 2nd quarter worth approximately $172,475,000. Two Sigma Investments LP boosted its position in shares of Conagra Brands by 239.6% during the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after purchasing an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Conagra Brands by 245.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares in the last quarter. AQR Capital Management LLC grew its stake in Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after purchasing an additional 5,100,424 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Conagra Brands by 241.9% in the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after purchasing an additional 4,185,486 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. UBS Group restated a “neutral” rating and set a $20.00 target price on shares of Conagra Brands in a report on Friday, February 13th. Evercore decreased their price target on shares of Conagra Brands from $22.00 to $19.00 in a research note on Friday, January 9th. Sanford C. Bernstein lowered their price target on shares of Conagra Brands from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Royal Bank Of Canada dropped their price objective on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $18.57.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $15.62 on Monday. The firm has a market cap of $7.47 billion, a P/E ratio of -70.98 and a beta of -0.02. Conagra Brands has a twelve month low of $15.03 and a twelve month high of $27.68. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $17.93 and a 200 day moving average of $17.82.

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.