Conagra Brands $CAG Shares Purchased by AIA Group Ltd

AIA Group Ltd raised its stake in Conagra Brands (NYSE:CAG) by 238.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,954 shares of the company’s stock after buying an additional 145,191 shares during the period. AIA Group Ltd’s holdings in Conagra Brands were worth $3,771,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Conagra Brands during the second quarter valued at $26,000. True Wealth Design LLC increased its stake in Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after purchasing an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Conagra Brands in the 2nd quarter worth about $29,000. Spire Wealth Management raised its holdings in Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after buying an additional 1,230 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Conagra Brands during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE CAG opened at $15.40 on Friday. The company has a 50 day simple moving average of $18.12 and a 200-day simple moving average of $18.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -69.98 and a beta of -0.02. Conagra Brands has a 52-week low of $15.31 and a 52-week high of $27.68.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CAG. Jefferies Financial Group decreased their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. Bank of America decreased their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Monday, December 22nd. Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a research report on Wednesday, February 18th. Finally, UBS Group reissued a “neutral” rating and set a $20.00 target price on shares of Conagra Brands in a research note on Friday, February 13th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Conagra Brands has a consensus rating of “Reduce” and an average price target of $18.71.

Conagra Brands 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.