Conagra Brands (NYSE:CAG) Trading Up 4.5% – Here’s Why

Conagra Brands (NYSE:CAG) traded up 4.5% during trading on Monday . The stock traded as high as $14.50 and last traded at $14.4470. 1,601,085 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 15,799,813 shares. The stock had previously closed at $13.83.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAG shares. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada cut their price objective on shares of Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. Barclays reduced their price objective on shares of Conagra Brands from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. BNP Paribas Exane lowered their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Finally, Morgan Stanley lowered their target price on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Reduce” and an average price target of $14.00.

Conagra Brands Trading Down 1.1%

The stock has a market cap of $6.78 billion, a P/E ratio of -141.72 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 stock has a 50-day moving average price of $13.60 and a 200-day moving average price of $15.76.

Institutional Investors Weigh In On Conagra Brands

Several hedge funds have recently bought and sold shares of CAG. State Street Corp increased its holdings in shares of Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after buying an additional 588,435 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Conagra Brands by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after acquiring an additional 1,701,624 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Conagra Brands by 13.3% during the 4th quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after acquiring an additional 2,079,903 shares during the last quarter. Morgan Stanley grew its position in Conagra Brands by 18.5% in the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock worth $263,624,000 after acquiring an additional 2,376,823 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Conagra Brands by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock worth $222,113,000 after acquiring an additional 1,984,873 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

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.