597,723 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 597,723 shares of the company’s stock, valued at approximately $16,588,000.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the fourth quarter worth $29,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands during the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.7 %

Shares of NYSE CAG opened at $26.10 on Tuesday. The company’s 50-day simple moving average is $25.67 and its 200-day simple moving average is $27.99. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. Equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CAG. JPMorgan Chase & Co. dropped their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Bank of America dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.