CWA Asset Management Group LLC Takes $2.72 Million Position in Conagra Brands $CAG

CWA Asset Management Group LLC acquired a new position in Conagra Brands (NYSE:CAG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 156,915 shares of the company’s stock, valued at approximately $2,716,000.

A number of other institutional investors also recently bought and sold shares of CAG. NewEdge Advisors LLC increased its position in Conagra Brands by 4.2% in the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Conagra Brands during the 1st quarter valued at about $225,000. Empowered Funds LLC grew its stake in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after acquiring an additional 2,038 shares during the period. Woodline Partners LP grew its stake in shares of Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after acquiring an additional 11,664 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Conagra Brands by 30.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 207,972 shares of the company’s stock worth $4,257,000 after acquiring an additional 48,879 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $20.00 price objective on shares of Conagra Brands in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company restated an “underweight” rating and set a $15.00 target price (down from $20.00) on shares of Conagra Brands in a research note on Thursday, March 12th. Finally, Stifel Nicolaus dropped their target price on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Conagra Brands presently has an average rating of “Reduce” and an average price target of $18.57.

Conagra Brands Stock Down 1.6%

NYSE CAG opened at $15.16 on Friday. Conagra Brands has a 12 month low of $15.06 and a 12 month high of $27.68. 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 cap of $7.25 billion, a PE ratio of -68.89 and a beta of -0.02. The stock’s 50 day moving average is $18.08 and its 200 day moving average is $17.97.

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

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.