Wealth Enhancement Advisory Services LLC Trims Position in Conagra Brands $CAG

Wealth Enhancement Advisory Services LLC cut its stake in Conagra Brands (NYSE:CAG) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,631 shares of the company’s stock after selling 36,311 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Conagra Brands worth $5,167,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of Conagra Brands by 20.0% in 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 in the last quarter. AE Wealth Management LLC increased its position in shares of Conagra Brands by 13.7% during the third quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock valued at $13,185,000 after acquiring an additional 86,604 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Conagra Brands by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock worth $55,323,000 after purchasing an additional 408,597 shares in the last quarter. AIA Group Ltd increased its holdings in Conagra Brands by 238.9% in the 3rd quarter. AIA Group Ltd now owns 205,954 shares of the company’s stock worth $3,771,000 after buying an additional 145,191 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Conagra Brands in the third quarter worth approximately $7,310,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAG shares. Royal Bank Of Canada reduced their price objective on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a research report on Monday, December 22nd. Wells Fargo & Company restated an “underweight” rating and issued a $15.00 price target (down from $20.00) on shares of Conagra Brands in a research report on Thursday, March 12th. Bank of America cut their price objective on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Monday, December 22nd. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $18.57.

Conagra Brands Trading Down 0.0%

Shares of CAG stock opened at $15.62 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of -70.98 and a beta of -0.02. Conagra Brands has a 12-month low of $15.03 and a 12-month high of $27.68. The stock’s 50-day moving average price is $17.93 and its 200-day moving average price is $17.82.

Conagra Brands Company Profile

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.