Swiss Life Asset Management Ltd Has $3.48 Million Stock Holdings in Conagra Brands $CAG

Swiss Life Asset Management Ltd trimmed its position in Conagra Brands (NYSE:CAG) by 29.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 190,059 shares of the company’s stock after selling 77,753 shares during the period. Swiss Life Asset Management Ltd’s holdings in Conagra Brands were worth $3,480,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in Conagra Brands by 45.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock worth $6,485,000 after purchasing an additional 106,891 shares during the period. Hsbc Holdings PLC lifted its position in Conagra Brands by 20.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock valued at $25,578,000 after purchasing an additional 208,450 shares during the period. AE Wealth Management LLC lifted its position in Conagra Brands by 13.7% during the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock valued at $13,185,000 after purchasing an additional 86,604 shares during the period. JPMorgan Chase & Co. boosted its stake 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 valued at $55,323,000 after purchasing an additional 408,597 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Conagra Brands in the 3rd quarter valued at about $7,310,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAG shares. Jefferies Financial Group dropped their price target 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. Wall Street Zen raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Bank of America lowered their target price on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Monday, December 22nd. Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein cut their price target on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $18.57.

Conagra Brands Stock Performance

Shares of CAG stock opened at $15.16 on Monday. The stock has a market cap of $7.25 billion, a PE ratio of -68.89 and a beta of -0.02. The stock has a 50-day moving average of $18.08 and a 200-day moving average of $17.96. 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 $15.06 and a one year high of $27.68.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm earned $0.70 EPS. Conagra Brands’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

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.