Conagra Brands $CAG Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Conagra Brands (NYSE:CAG) by 25.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 785,989 shares of the company’s stock after acquiring an additional 157,423 shares during the period. Hsbc Holdings PLC’s holdings in Conagra Brands were worth $13,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CAG. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands in the 2nd quarter worth about $26,000. Harbour Investments Inc. grew its holdings in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the period. MUFG Securities EMEA plc acquired a new stake in Conagra Brands in the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Conagra Brands in the third quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Conagra Brands by 100.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Jefferies Financial Group decreased their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Barclays cut their price target on shares of Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. BTIG Research began coverage on shares of Conagra Brands in a report on Monday, April 13th. They set a “neutral” rating on the stock. Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, BNP Paribas Exane cut their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and a consensus target price of $14.13.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $14.06 on Wednesday. Conagra Brands has a one year low of $12.53 and a one year high of $20.82. The company has a market cap of $6.73 billion, a price-to-earnings ratio of -140.64 and a beta of -0.02. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.30 and a current ratio of 0.90. The business’s 50 day moving average price is $13.63 and its 200 day moving average price is $15.88.

Insiders Place Their Bets

In other news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the transaction, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Lenny bought 25,000 shares of Conagra Brands stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the purchase, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This trade represents a 12.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is owned by company insiders.

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.