IFP Advisors Inc Increases Stock Holdings in Conagra Brands $CAG

IFP Advisors Inc grew its stake in Conagra Brands (NYSE:CAG) by 32.0% during the third quarter, HoldingsChannel reports. The firm owned 209,446 shares of the company’s stock after purchasing an additional 50,776 shares during the quarter. IFP Advisors Inc’s holdings in Conagra Brands were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Conagra Brands by 45.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock valued at $6,485,000 after acquiring an additional 106,891 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Conagra Brands by 20.0% during the second quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after acquiring an additional 208,450 shares during the period. AE Wealth Management LLC raised its holdings in Conagra Brands by 13.7% during the third quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after purchasing an additional 86,604 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Conagra Brands by 15.6% in the third 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 period. Finally, Alps Advisors Inc. acquired a new stake in Conagra Brands in the third quarter valued at about $7,310,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAG. Stifel Nicolaus dropped their target price on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Wall Street Zen raised Conagra Brands from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Sanford C. Bernstein decreased 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. Bank of America dropped their price objective on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Monday, December 22nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a research report on Wednesday, February 18th. 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 MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $18.71.

Conagra Brands Trading Down 1.1%

Shares of CAG opened at $15.40 on Friday. Conagra Brands has a twelve month low of $15.31 and a twelve 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 firm has a market capitalization of $7.36 billion, a P/E ratio of -69.98 and a beta of -0.02. The firm’s 50-day moving average is $18.12 and its two-hundred day moving average is $18.00.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results 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 company had revenue of $2.98 billion during 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 company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. On average, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

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.