Swedbank AB Sells 52,900 Shares of Conagra Brands $CAG

Swedbank AB cut its stake in shares of Conagra Brands (NYSE:CAG) by 72.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,400 shares of the company’s stock after selling 52,900 shares during the period. Swedbank AB’s holdings in Conagra Brands were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $145,656,000. Two Sigma Investments LP raised its holdings in Conagra Brands by 239.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after buying an additional 5,889,542 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Conagra Brands by 245.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after buying an additional 5,495,503 shares during the period. AQR Capital Management LLC lifted its position in Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after buying an additional 5,100,424 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Conagra Brands by 241.9% in the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after buying an additional 4,185,486 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore cut their price objective on shares of Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. Royal Bank Of Canada dropped their price target on shares of Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, June 18th. Finally, BNP Paribas Exane reduced their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $14.00.

Insider Buying and Selling at Conagra Brands

In related news, Director Richard H. Lenny bought 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John J. Mulligan purchased 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was bought at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. The trade was a 542.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by company insiders.

Conagra Brands Trading Up 3.4%

Conagra Brands stock traded up $0.46 during mid-day trading on Friday, hitting $13.83. The company’s stock had a trading volume of 11,360,613 shares, compared to its average volume of 22,403,042. The company has a 50 day moving average of $13.60 and a 200-day moving average of $15.81. The stock has a market cap of $6.62 billion, a PE ratio of -138.28 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. Conagra Brands has a one year low of $12.53 and a one year high of $20.32.

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.